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Post by Admin on Apr 22, 2022 6:05:01 GMT
‘Don’t Say Gay’ causes unexpected showdown between Florida, Disney corporation 5,527 views Apr 22, 2022 The Walt Disney Company is more than a giant corporation. To many, it's long been synonymous with family entertainment. It's now caught up in a much larger battle in Florida tied to the country's cultural and political divides, prompted by its opposition to the governor's stance on LGBTQ issues.
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Post by Admin on Apr 22, 2022 21:20:46 GMT
DeSantis signs law dissolving Walt Disney World's self-government 38,503 views Apr 23, 2022 Florida Gov. Ron DeSantis on Friday signed into law a bill that dissolves Walt Disney World's private self-government.
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Post by Admin on Apr 28, 2022 1:30:30 GMT
As Disney (DIS) grapples with the aftermath of Florida Governor Ron DeSantis revoking the company's special tax district, some experts say the dissolution might not even happen. "I don't think it's very likely," said Richard Foglesong, Disney historian and author of the book "Married to the Mouse: Walt Disney World and Orlando." "Frankly, the consequences are too dire," Foglesong added. "Already you're seeing conversations about the real cost of this, and who will pay. From all appearances now, if you listen to our county officials, it's likely that the cost will be paid by the people who live here, and I don't think that's going to be a very popular idea," he continued. Still, the bill was signed into law by Governor DeSantis on Friday and, barring any major backpedaling on the part of lawmakers, will go into effect in June 2023. Disney could also sue Florida for retaliation in an attempt to thwart the legislation, although experts say it is more likely that the media giant will enter into negotiations to alter the terms of the district. 'Vatican with mouse ears' Currently, Walt Disney World Resort sits on a 40-square mile area known as Reedy Creek, the special tax district that has allowed Disney to operate as a self-governing entity since its inception. That means Disney controls all of its utilities and infrastructure, sets building codes, operates its own police and fire departments, and can expand and grow whenever it wishes — all without local or state government interference. "I call it a Vatican with mouse ears, because it's essentially the same kind of authority that the Vatican has in Rome in the state of Italy," the historian said. Consequently, the district (in addition to providing immense control and flexibility) saves the company tens of millions of dollars every year in certain taxes and fees. The new ruling will therefore force Disney to pay taxes on those government-funded programs; however, it also means that Reedy Creek's $997 million worth of bond debt, and some $163 million in annual tax payments, will fall on the citizens of Orlando.
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