DeSantis Insists Disney Will Have to Pay Its Debts, Says ‘Additional Legislative Action’ in the Works
Florida Gov. Ron DeSantis said Disney will have to pay its own debts as the entertainment corporation stated that the state would have to foot the bill for its bond taxes when its special status is revoked.
Last month, the Florida Legislature passed DeSantis-backed legislation that rescinded Disney’s 55-year special governing status that had allowed it to control a vast, 25,000-acre parcel of land near Orlando that houses Walt Disney World and other facilities.
After the measure was signed by the governor, the Burbank, California-based company criticized the move to strip the Reedy Creek Improvement District of special privileges. It claimed that there’s a clause in the decades-old original contract that says Florida would be responsible for its bond debt, which amounts to hundreds of millions of dollars.
Originally appeared on The Epoch Times