Florida Gov. DeSantis signs bill to end Disney's self-governing power and renames it's civil district
Florida Gov. DeSantis signs bill to end Disney's self-governing power and renames it's civil district
Florida Governor Ron DeSantis has signed a bill into law that puts Disney under the control of a state board, ending the company's self-governing power. The new law renames the Reedy Creek Improvement District, where Disney World is located, to the Central Florida Tourism Oversight District, and requires term-limited members who are not recent employees or have been contracted by Disney in the past three years. The board will have five new members appointed by the governor, who are expected to review compensation for first responders in the area. Under the original Reedy Creek structure, Disney effectively decided the makeup of the board since it owns nearly all the land in the district. The bill also ends Disney's exemption from Florida building codes and Florida fire prevention codes, and from state regulatory reviews and approvals. Disney remains liable for almost $1bn in municipal debt issued by the district, which the new district will have the ability to levy taxes and issue bonds.
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