The fight erupted after DeSantis signed a controversial bill last month banning schools from instructing children from kindergarten to third grade on issues related to sexual orientation and gender identity. Disney CEO Bob Chapek initially tried to stay out of the heated public debate over the measure, which was ridiculed by critics as the Do Not Say Homosexual Act. But with pressure mounting from within the company to oppose the measure, he finally went public against the measure at his company’s annual shareholders meeting in March. The Republican governor responded by seeking to tarnish Disney as he “woke up” and moved to end the special regime that allows the resort to operate as its own municipal government in its 39-square-mile Reedy Creek Improvement District. Making its only public statement since the Republican governor and lawmakers turned their anger on Disney, the company this week reassured investors that the state could not legally cancel its deal for 55 years, provided the Reedy Creek County bond debt had not been repaid. As a result, trying to dismantle the special tax district in Orange and Osceola counties would break an agreement reached by Florida when it created the area in 1967, the company said. Posted on the Municipal Securities Rulemaking Board website on April 21, Disney said: “In light of Florida’s commitment to the district’s bondholders, Reedy Creek looks forward to exploring his options while continuing his current business, including collection. and the collection of the advertisement of value-added bonds and interest-bearing bonds, complying with its bond agreements and operating and maintaining its assets ”. Florida is contractually obligated not to engage with the district until the bond debt is repaid, Jacob Schumer, a Florida-based attorney at Shepard, Smith, Kohlmyer & Hand, told CBS MoneyWatch. “The task of dissolving a special district and dividing its responsibilities into two prefectures is enormous,” he said. Disney World’s special tax regime may not be in jeopardy, says journalist 06:27 Disney did not respond to a request for comment. It employs about 80,000 people at the resort, which includes many theme parks, hotels and its own bus fleet. The political brawl is likely to continue, with Descadis signaling that he is ready to step up the fight with Disney. “The governor’s team is working to manage this legislation that is designed to level the playing field for businesses in Florida. When we have more to share on our way forward, we will be happy to send it,” he said. “The governor, the Floridians will not have to lift the weight of Disney,” a CBS MoneyWatch spokesman said in an email.
