Post by revirdsuba99 on Dec 2, 2022 15:42:00 GMT
On Reedy Creek...
On Friday, Carl Quintanilla of CNBC News reported that Florida Republicans are quietly planning to reverse a key decision touted by Gov. Ron DeSantis designed to retaliate against the Walt Disney Corporation for criticizing one of his signature anti-LGBTQ laws.
Specifically, they are planning to reverse their previous move abolishing the Reedy Creek Improvement Act — a decades-old provision that allowed Disney to build Walt Disney World in the swamps outside Orlando and set up their own local government taxing district to administer the area.
This comes just weeks after DeSantis, who touted his war against Disney politically during the election campaign, was re-elected decisively — but before the repeal of the taxing district could actually take effect.
**"
It became clear even during passage of the measure to repeal the district, which would take effect in June of next year, that lawmakers hadn't thought through the consequences. Officials in Reedy Creek have stated that the repeal violates state law, as the debt issued for the project hasn't been paid off. Tax experts have even warned that if the repeal takes effect, property taxes would have to increase throughout much of the Orlando area to pay off the outstanding bonds.
www.rawstory.com/ron-desantis-disney-2658822845/
On Friday, Carl Quintanilla of CNBC News reported that Florida Republicans are quietly planning to reverse a key decision touted by Gov. Ron DeSantis designed to retaliate against the Walt Disney Corporation for criticizing one of his signature anti-LGBTQ laws.
Specifically, they are planning to reverse their previous move abolishing the Reedy Creek Improvement Act — a decades-old provision that allowed Disney to build Walt Disney World in the swamps outside Orlando and set up their own local government taxing district to administer the area.
This comes just weeks after DeSantis, who touted his war against Disney politically during the election campaign, was re-elected decisively — but before the repeal of the taxing district could actually take effect.
**"
It became clear even during passage of the measure to repeal the district, which would take effect in June of next year, that lawmakers hadn't thought through the consequences. Officials in Reedy Creek have stated that the repeal violates state law, as the debt issued for the project hasn't been paid off. Tax experts have even warned that if the repeal takes effect, property taxes would have to increase throughout much of the Orlando area to pay off the outstanding bonds.
www.rawstory.com/ron-desantis-disney-2658822845/