The bill to strip Disney of its special tax status was voted on by the Florida Legislature. CNBC reported that taxpayers might have to cover the debt if the special status is repealed. Disney has been fighting with lawmakers over the "Don't Say Gay" bill. The law could saddle local taxpayers with more than $1 billion in bond debt, according to CNBC. Florida Republicans passed a bill on Thursday that would repeal the company&s special improvement district in June of 2023. The company spoke out against the Parental Rights in Education bill, dubbed by activists and critics as the "Don't Say Gay" bill. The Reedy Creek Improvement District was created by the state of Florida in 1967, in which Disney World's owners would be able to fund their own municipal services. The Reedy Creek district in Orange County collects about $105 million a year in general revenue, which is more than Disney pays in property taxes. The legislation was approved by lawmakers on Thursday. If the responsibility for municipal services is dissolved, it goes to the neighboring counties. If Reedy Creek is dissolved, it will leave $105 million in revenue that will not be transferred to the taxpayers. Florida state Rep. Randy Fine told CNBC that local taxpayers would benefit from Disney being stripped of its special tax status, saying the tax revenue generated by Disney would instead go to local government and would cover the services. Fine said that the taxes will be paid to Orange and Osceola county. The taxpayers could end up saving money because the duplicative services that are being provided by this special district are already being done by the other municipalities. Tax experts and legislators warned that dissolving the district would mean transferring its bond liabilities of between $1 billion and $1.7 billion to other local governments, CNBC reported. The debt could add another $1,000 per taxpayer if the liabilities are shifted to Orange and Osceola counties, according to Gary Farmer. The state might have to come to the aid of the two counties if they are left holding the bag. It affects every taxpayer in Florida. An amendment to the Disney tax status bill was shot down by a voice vote. Disney pays tax and Fine said the bond liabilities would be covered. Farmer said that we shouldn't be moving at warp speed on something that can have such far-ranging economic impacts. Representatives for Walt Disney World, Farmer, and Fine did not reply to Insider's request for comment. The CEO of Disney came under fire last month after the company initially denounced the state. The legislation, signed into law by Gov. Ron DeSantis on March 28, would ban discussions of sexuality and gender identity in classrooms from kindergarten to third grade and allow parents to file lawsuits if staff members facilitate those conversations. It will go into effect on July 1. Disney released its most critical statement thus far against the legislation, saying it should never have passed and should never have been signed into law. Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that. The companycrossed the line with their statement and effort to repeal it, which he called dishonest. On Thursday, Newsmax host Eric Bolling asked the lieutenant governor if the governor would reconsider repeal of Disney's special tax status if the company gave up their agenda. Is there an opportunity for Disney to change their mind and say we will ignore the agenda, and then the governor would say, "Fine, you can keep your status, but we're gonna keep an eye on you." The original article is on Business Insider. Carlson is primarily speaking to senior citizens like kindergarteners and scaring them with garbage, according to Jimmy. Democrats are worried about losing their majority in the upcoming elections. At a monthly town hall, Representative Alexandria Ocasio-Cortez (D-NY) spoke about the possibility of Democrats losing the House, emphatically stating that it was no joke. You need to try this if you don't like cleaning. The cleaning hacks and products will change your life. A Taiwanese news station accidentally reported that China had invaded the island nation. The news crawl at the bottom of one of the segments was mistakenly released by Taiwanese public broadcaster Chinese Television System. The Arizona Supreme Court ruled on Thursday that the state's voters don't have the right to reject a massive income tax cut approved by the Legislature. When the tax cut is fully in place, it will hit nearly $2 billion and mainly benefit the wealthy. The lawyers for the Arizona Free Enterprise Club argued that the state constitution does not allow referrals for measures that provide for the support and maintenance of state government. Rick Newman talked about a Florida bill that would strip Disney of its special status in the state. Many equally delicious berries are abundant in the wild and are commonly available in grocery stores. Brooklyn had to rely on the veteran star to get to the seventh seed. Alex Jones, a radio host who once owned three companies, is in court Friday for his first day as a debtor. The second wave of the Russian oil shock is starting and Putin calls off the storm of Mariupol. Morgan wrote about an exchange that he said took place before an interview with Trump. Millions of people kick their sleep medication addiction with a new sleep device. The activity was without the approval of the utility company. 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Become a pilot, crew leader or infantry squad commander. The Florida Senate passed a bill to repeal a law that allows Disney World to operate a private government in the state. The proposal could have huge tax implications for Disney, whose series of theme parks have over the decades transformed Orlando into one of the world's most popular tourist destinations. The measures were pushed by the governor and come as he battles with Disney over a new law that bars instruction on sexual orientation and gender identity in kindergarten through third grade. The decision was reasonable and fair, but airlines need to think about what to do if the mandate is restored. House hacking is a real estate strategy that involves finding ways to make money from your home. A man builds a trap to catch a thief. The demand environment is the strongest it has been in 30 years, according to United CEO Scott Kirby. Treasury Secretary Janet Yellen and Serhiy Marchenko walked out of a meeting of the Group of 20. An official familiar with the meetings who spoke on the condition of anonymity said that finance ministers and central bank governors left the room. White House press secretary Jen Psaki said that the White House supports the steps taken by Federal Reserve Chair Janet Yellen and that Russia has become a pariah on the global stage. A nationwide alert has been sent out by the U.S. health officials, warning doctors to be on the lookout for symptoms of a cold virus that may be linked to a disease in young children. There have been investigations in the United States and Europe of clusters of hepatitis in young children. The CDC is working with counterparts in Europe to understand the cause of the infections.INSIDER
Stripping Disney of its self-governing status is the latest development in the company's fight with GOP state lawmakers over the 'Don't Say Gay' bill
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