The Florida Senate voted to eliminate the Reedy Creek Improvement District on Wednesday, dealing a blow to Disney and taxpayers. The Reedy Creek Improvement District is a major blow to Disney and taxpayers in Central Florida. The district has a billion dollars in bonds that need to be dealt with. State lawmakers admitted that the burden would fall on local taxpayers. The bill's sponsor in the Florida Senate said that the procedures would transfer the indebtedness to the general-purpose local governments. The bonds that Reedy Creek holds will mature in 2036. Revenue bonds are backed by payments for utilities. The district is on the verge of dissolution and 80% of the bonds are general obligation bonds. What would dissolving Disney's Reedy Creek mean for local taxpayers? State law says that those bonds will be assumed by the counties but you really have to dig in to see that. The bonds of AIG had to be paid immediately after the company went out of business. The payment on the bonds taken out by Reedy Creek could be the same as the ones taken out by the county. Florida lawmakers will consider ending Disney's self-governing power during a special session. State lawmakers admitted they don't know who would absorb the debt or how soon during the lone committee stop in the Senate. Bishop-Henchman said that a billion dollars spread across the population of the county was real money. There wouldn't be that much additional money for the county to acquire Disney's land and debt. All face mask requirements have been removed by Disney World. If Reedy Creek goes away, the $105 million it collects to operate services goes away. Orange County does not have any extra funds to take care of debt and obligations. State law requires Orange County to create a new special district for Disney before it can tax Disney extra. To take back the debt, the property owners inside of Disney would need to agree to it. Groups gather near Disney World to protest. If the bond debt falls on Orange County, residents can expect to accumulate between $2,200 and $2,800 in extra debt for a family of four. The measure is expected to be passed by the Florida House. The Reedy Creek district would be dissolved on June 1, 2023, if the law is signed. Click here to download the free WFTV news and weather apps, click here to download the WFTV Now app for your smart TV, and click here to stream Channel 9 Eyewitness News live. Rick Newman talked about a Florida bill that would strip Disney of its special status in the state. What could dissolving Disney's Reedy Creek mean for taxpayers? Few know that Amazon has millions of Prime subscribers. The drivers were inside the warehouse when the tornado hit. Police say he groped the woman as she was showering. That is one way to respond to a dinger. A man builds a trap to catch a thief. McConnell is concerned about the commission of Judge Jackson to the Supreme Court before Justice Stephen Breyer leaves the court. 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