Florida Gov. Ron DeSantis said Walt Disney Co. 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Last month, the Florida Legislature approved DeSantis-backed legislation that rescinded Disney’s 55-year special governing status that had allowed it to control a vast, 25,000-acre parcel of land near Orlando that houses Walt Disney World and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.
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