‘There’s A New Sheriff In Town’: DeSantis Cracks Down On Disney’s Tax Loopholes
Republican Florida Governor. Ron DeSantis stated this week at a press conference that Disney would pay its fair share in taxes as Republicans work to pass legislation that will allow DeSantis officially to strip Disney off its self-governance power.
“Disney is going to pay its fair share of taxes, and Disney is going to honor the debt,” DeSantis said. “And that’s exactly what this proposed piece of legislation will do.”
“Now, this is obviously now going to be controlled by the state of Florida, which is no longer self-governing for them,” He concluded. “So there’s a new sheriff in town, and that’s just the way it’s gonna be.”
“Disney is no longer going to have self-government. Disney is gonna pay their fair share of taxes and honor their debts. … This is now going to be controlled by the state of Florida. There’s a new sheriff in town.” – Governor @RonDeSantisFL 👏👏👏 pic.twitter.com/53o8iP5GrJ
— DeSantis War Room 🐊 (@DeSantisWarRoom) February 8, 2023
If passed, the bill will turn the Reedy Creek Improvement District into the Central Florida Tourism Oversight District and will deliver on DeSantis’ promise last year to take over the district.
DeSantis’ office said that the special tax district, which has allowed Disney to govern itself since 1967, turned the theme park into “an unaccountable Corporate Kingdom.”
“Florida is dissolving the Corporate Kingdom and beginning a new era of accountability and transparency,” DeSantis’ office said. “These actions ensure a state-controlled district accountable to the people instead of a corporate-controlled kingdom.”
DeSantis’ office said that the legislation:
- Permanently eliminates Disney’s self-governing status.
- Imposes a state-controlled, term-limited board – with members appointed by the governor – on Disney and its property.
- Allows the state to impose taxes on Disney for possible road projects outside of the District’s boundaries.
- Ensures that Disney pays the $700+ million in unsecured debt – not Florida taxpayers.
- Provides no control of the district to the leftist local government in Orange County, which threatened to leverage the situation to raise local taxes.
- Imposes Florida law so that Disney is no longer given preferential treatment.
- Prevents Disney from gaining more land by eminent domain.
- Creates an avenue to compel Disney to contribute to local infrastructure.
DeSantis’ office also released a list of some of Disney’s self-governing powers:
- Full self-governing status with a Disney-selected board.
- The ability to build airports and nuclear facilities.
- Acquisition of property beyond the District’s territory by condemnation and eminent domain.
- Unilateral boundary changes.
- No-bid procurements of construction contracts.
- Operating standards that varied from Florida Statute.
- Exemptions from regulatory reviews and approvals that other companies must navigate.
Jeff Vahle, President, Walt Disney World Resort, said in a statement that the company was closely watching the legislation.
“We are monitoring the progression of the draft legislation, which is complex given the long history of the Reedy Creek Improvement District,” he said. “Disney works 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 each year.”
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