Get his Minnie value! Ron DeSantis takes control of Disney’s Reedy Creek Improvement District

Ron DeSantis has taken control of Disney’s formerly self-governing Florida district and announced that Disney must pay back $700 million in debt and begin paying taxes.

In a dramatic escalation of his longstanding fight against Disney, the Florida governor announced Monday that he would take control of Reedy Creek’s board of directors.

The five-member board oversees nearly 40 square miles of Florida on which the Walt Disney World Resort is being built.

“Florida is dissolving the corporate empire and entering a new era of accountability and transparency,” DeSantis deputy press secretary told DailyMail.com in a statement.

DeSantis will also rebrand the location, changing its name from Reedy Creek to the Central Florida Tourism Oversight District.

Florida Gov. Ron DeSantis is escalating the fight against the board of Disney’s Reedy Creek by taking full control of Walt Disney Co’s formerly self-governing special tax district, which encompasses the nearly 40 square miles of Walt Disney World Resort

A new bill was proposed by Florida politicians on Monday that would give the governor full control of the district and the ability to appoint the five-member board of directors to run the special district.

The nominees would then need to be confirmed by Florida State Senators.

The proposed legislation would maintain Reedy Creek’s commitment to nearly $1 billion of outstanding bonds.

Reedy Creek, which has bestowed extensive designation benefits on Disney for the last half century, is governed by five board members elected by local property owners.

Given that most of the land within the Special District is owned by Disney and its subsidiaries, the company is given unbalanced power over how the territory is run, essentially allowing Walt Disney Co. to operate as a form of government.

The new rules proposed in Monday’s bill would bar anyone with ties to the theme park from serving on the Reedy Creek board of directors.

“These actions ensure a state-controlled district accountable to the people, rather than a corporate-controlled kingdom,” noted Jeremy Redfern, DeSantis deputy press secretary.

If approved, the legislation would permanently eliminate Disney’s ability to self-govern the territory, which includes Orange and Osceola counties in Florida.

Walt Disney World says the company is “monitoring the progress” of the legislation

Walt Disney World President Jeff Vahle released a statement on the proposed legislation that would reorganize the Reedy Creek Improvement District and said the company was “monitoring the progress” of the legislation.

“Disney operates under a number of different models and jurisdictions around the world, and regardless of the outcome, we remain committed to providing the highest quality experience for the millions of guests who visit us each year.”

If the bill becomes law, it would also limit the term of office of the board and give the governor the power to nominate members — and allow Florida to impose taxes and laws on Disney and the district its resort encompasses.

In addition, the bill would ensure Disney is held responsible for paying more than $700 million in unsecured debt and ensures it doesn’t fall on Florida taxpayers.

The Reedy Creek Improvement District was created by the Florida Legislature in 1967 and gave Disney special privileges and self-government rights that were targeted by DeSantis.

That power was tantamount to an unaccountable corporate empire,” Redfern observed.

The bill is the culmination of an ongoing conflict between DeSantis and one of the state’s largest employers.

Source: | This article originally belongs to Dailymail.co.uk