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DeSantis says Florida could take control of Disney’s special district -Breaking

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© Reuters. FILE PHOTO – Florida’s Republican-backed bill “Don’t Say Gay”, which prohibits school instruction about sexual orientation or gender identity, is being supported by supporters. They gather near the flag bearing a photograph of Governor Ron DeSantis.

(Reuters) – Florida Governor Ron DeSantis stated Monday that he believes the state should take over Walt Disney World, and not local governments. Disney (NYSE:) Co’s Special District when it is set to dissolve in June 2019.

Last month, the Republican governor signed legislation that would eliminate Central Florida’s Reedy Creek Improvement District. This special governing area allowed Walt Disney World Resort to be operated as its own municipality since the 1960s.

Since the opposition to a state law restricting the teaching of LGBTQ topics in schools, DeSantis and the entertainment company have been in an ongoing feud.

DeSantis said Monday in a news conference that, rather than local jurisdictions being absorbed by Disney’s authorities, “more likely” that the state will take over.

The administration of Reedy Creek has been working to develop proposals, which will be reviewed by the legislature after November’s election.

Disney didn’t immediately reply to our request for comment.

Under Florida law, local governments would inherit the assets and liabilities of Disney’s district, the Orlando Sentinel reported https://www.orlandosentinel.com/politics/os-ne-desantis-disney-world-reedy-creek-plan-20220516-eq6h2jprd5f2ndcwjip6qsnpim-story.html, an eventuality that some local officials have warned could have dire consequences for taxpayers.

Experts say the current financial implications of the legislation for the state and company are unclear.

DeSantis, without further ado, reiterated Monday that Disney is responsible for the repayment of its bond debts in excess to $1 billion and that it will also pay its share of taxes.

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