Florida Governor Ron DeSantis said the state government will likely take control of Disney World's special district and take care of its debts.

Recount reported that DeSantis made the statement while speaking at Seminole State College in Sanford, Florida on Monday. Walt Disney Company's self-government status will be repealed in 2023, and the Reedy Creek Improvement District will also be dissolved.

The removal of Disney World's special district status will leave the local taxpayers with more than $1 billion in bond debt. DeSantis and his administration maintained that state residents would not carry the taxes with the revocation of Disney's special district status.

The Republican governor said Florida has the lowest per Capita tax burden and has the biggest budget surplus they've ever had. He added that there would be no basis to do any type of raising taxes.

DeSantis noted that since Disney had enjoyed all the subsidies over the years, the state and local governments will collect more taxes from the company itself.

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Florida State Government to Assume Control of Disney World's Special District

Ron DeSantis also said on Monday that it was more likely that the state would actually assume control of Disney World instead of the local communities absorbing jurisdiction, Reuters reported.

The Republican governor's administration is currently working on proposals for what will be the next step for Reedy Creek once it is dissolved. However, DeSantis noted that legislators will not be able to take it up until after the November election.

Local governments would inherit the assets and liabilities of Disney's district under Florida law. Experts noted that the financial impact of the legislation on the company and state is unclear at this stage.

DeSantis said Disney will be responsible for honoring its roughly $1 billion debt and that the company will pay its "share of taxes."

Disney World's Special District Revoked

Recently, a federal judge threw out a lawsuit by three Florida residents who claimed that Ron DeSantis' move to dissolve the district as punishment "in a political fight" violated Walt Disney Company's First Amendment rights.

According to Bloomberg, U.S. District Judge Cecilia Altonaga noted that the Florida residents who filed the lawsuit failed to show that Disney "faces any hindrance" in making its own case if it chooses to.

The judge said the claims were not ready for litigation and adjudication as the law's provisions were not in effect yet. Altonaga wrote in her ruling that "indirect and highly speculative alleged injury cannot support federal jurisdiction."

In April, DeSantis signed into law the bill to remove the special district that allows the Walt Disney Company to self-govern its theme park in Orlando.

The measure would dismantle Disney's special district, known as the Reedy Creek Improvement District, on June 1, 2023. House lawmakers passed the bill in a 68-38 vote after the Senate's 23-16 vote.

Reedy Creek was created in 1967 by the Florida legislature so Disney could develop the infrastructure for Walt Disney World without any cost to Florida taxpayers.

It has been able to make additions to its resort area for more than five decades, including new theme parks, hotels, and other tourism experiences.

READ MORE: Disney Stocks Falls by 33% After Governor Ron DeSantis Revokes Special Status

This article is owned by Latin Post.

Written by: Mary Webber

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