A repeal of Disney’s self-government status in Florida could leave local taxpayers with more than $1 billion in bond debt, according to tax officials and legislators.
The Florida House of Representatives on Thursday passed a bill that would dissolve Disney’s special improvement district, escalating Gov. Ron DeSantis’ attack on the company over its opposition to Florida’s Parental Rights in Education bill, dubbed by critics the “Don’t Say Gay” bill.
The state Senate passed the bill Wednesday, after it was first introduced Tuesday. It will now go to the governor for his signature.
Disney’s Reedy Creek Improvement District was created in 1967 and gives the Walt Disney Company full regulatory control over Disney World as well as government services such as fire protection, emergency services, water, utilities, sewage and infrastructure.
Tax experts and legislators say elimination of the district, which would take effect in June 2023, could have unintended consequences for county taxpayers.