Florida Governor has revealed what his plans are for the Reedy Creek Improvement District moving forward. The governor posted a notice on the Osceola County website with plans to seek legislation that would strip Walt Disney World of its self-governing power. The proposed legislation would have Disney pay upwards of $700 million in Reedy Creek debt. It would also see the Governor appointing board members to the Reedy Creek Improvement District.
This new proposed legislation comes after a bill was passed last year to revoke the Reedy Creek Improvement District. This was in retaliation to Disney CEO Bob Chapek’s opposition to a parental rights law, also known as the “Don’t Say Gay” law. It is unknown if the return of Bob Iger to the role of CEO will have any impact on the future of Reedy Creek. At this point, it doesn’t seem to be changing anything.
“The corporate kingdom has come to an end,” DeSantis’ communications director, Taryn Fenske said. “Under the proposed legislation, Disney will no longer control its own government, will live under the same laws as everyone else, will be responsible for their outstanding debts, and will pay their fair share of taxes.”
“Imposing a state-controlled board will also ensure that Orange County cannot use this issue as a pretext to raise taxes on Orange County residents,” she continued.
Here is what was posted by Governor DeSantis:
Reedy Creek Improvement District
Notice is hereby given of intent to seek legislation before the Florida Legislature, during a regular, extended, or special session, of an act relating to the Reedy Creek Improvement District, Orange and Osceola Counties; amending, reenacting, and repealing Chapter 67-764, Laws of Florida, and decree in chancery no. 66-1061 (May 13, 1966); removing and revising powers of the District; increasing state oversight, accountability, and transparency of the District; revising the selection process, membership qualifications, and compensation for the governing body of the District; ensuring debts and bond obligations held by the District remain with the District and are not transferred to other governments by retaining the District’s authority related to indebtedness and taxation; revising the District’s authority over local permitting and regulation; revising the District’s regulatory framework and structure; instituting reporting requirements, including a review of the District’s remaining powers; describing the District boundaries and name; revising exceptions to general law and certain special acts; removing duplicative provisions; making conforming changes; creating an exception to general law; providing an effective date.
The Reedy Creek Improvement District was signed into law in 1967 by Gov. Claude Kirk. It basically allowed Disney to act as a self-governing body as it built and developed what would become Walt Disney World. Through the years this has led to many infrastructure projects and enhancements without the red tape that could have slowed or stopped them.
The legal implications for this newest proposal aren’t known yet. There are many paths that could be taken. This could involve accepting the path set forward by the governor, lawsuits, a compromise, or something completely new. What do you think will be the next step will be? Share your thoughts, predictions, and opinions in the comments below!
