Florida taxpayers could face a $1 billion Disney debt bomb if its special district status is revoked

[Cardinal]

Is this what Disney told you?

A mind is a terrible thing to

 

[SCrider]

Disney went woke so now they're going broke. Enough tax breaks for mega companies already. Let them pay tribute the tax man like everyone else.

That's cute but wrong. Disney won't be going broke but Florida might.

 

[Indlib]

Disney went woke so now they're going broke. Enough tax breaks for mega companies already. Let them pay tribute the tax man like everyone else.

Wow. You sound like AOC.

 

[tres borrachos]

You weren't able to read his link?

Too many words and not enough pictures.

 

[lemmiwinx]

I asked you to post a link to back up your claim. I didn't ask you if you were going to subscribe to their channels. And Chris Wallace has nothing to do with your claim that Disney is going broke.

Post a link to back it up.

It's all about wokeism. There's just too much of it out there. People sometimes tire of being preached to.

 

[Luce]

It's all about wokeism. There's just too much of it out there. People sometimes tire of being preached to.

lol.

Nobody gives a shit what you're tired of.

 

[tres borrachos]

It's all about wokeism. There's just too much of it out there. People sometimes tire of being preached to.

So you lied, and when confronted, you keep running and running.

Don't lie. Too many smart people on here and we catch you.

Disney isn't going broke by the way. Their gross profit in 2021 was $22.287 billion.

 

[SCrider]

It's all about wokeism. There's just too much of it out there. People sometimes tire of being preached to.

What is wokeism? Treating all people fairly seems like the right thing to do, why do you disagree?

 

[Luce]

What is wokeism? Treating all people fairly seems like the right thing to do, why do you disagree?

Because it makes John Wayne ugly-cry.

 

[Rexedgar]

1949 was a prescient year…..

 

[lemmiwinx]

What is wokeism? Treating all people fairly seems like the right thing to do, why do you disagree?

Wokeism is treating people who can't decide what sex they are the same as normal people. It's too creepy for me to buy into that lifestyle sad to say.

 

[reflechissez]

They're not getting any money from me on their plus channels if that means anything. Happy to see Chris Wallace's startup pay channel CNN+ has gone belly up.

You've gotten your random talking points in for the day. You're done now.

 

[tres borrachos]

Wokeism is treating people who can't decide what sex they are the same as normal people. It's too creepy for me to buy into that lifestyle sad to say.

Where is that link I keep asking you for?

 

[TomFitz]

Well this seems well thought out. The best part of basing your governance entirely on culture war is that it never, ever matters how badly you mess up. You could set the entire state on fire, and so long as a transexual kid is banned from her high school soccer team, it was totally worth it.

A repeal of Disney’s self-government status in Florida could leave local taxpayers with more than $1 billion in bond debt, according to tax officials and legislators.

The Florida House of Representatives on Thursday passed a bill that would dissolve Disney’s special improvement district, escalating Gov. Ron DeSantis’ attack on the company over its opposition to Florida’s Parental Rights in Education bill, dubbed by critics the “Don’t Say Gay” bill.

If the special district is dissolved, Orange and Osceola counties would have to provide the local services currently provided by Reedy Creek. And, the $105 million in revenue would disappear, meaning county and local taxpayers would be on the hook for part or all of the added costs.

“If you dissolved Reedy Creek, that $105 million in revenue literally goes away, it doesn’t get transferred,” Randolph said.

The reason: Reedy Creek is what’s known as an “independent tax district” meaning the tax revenues it generates are in addition to its local tax obligations, rather than a replacement of them. If the district is eliminated, the tax payments to Orange and Osceola counties would not increase, Randolph said.

But legislators and tax experts warn the bill creates an even larger potential problem for taxpayers in the form of bonds totaling more than $1 billion.

Reedy Creek has bond liabilities of between $1 billion and $1.7 billion, according to the district’s financial filings. Under Florida statute, if Reedy Creek is dissolved, those liabilities are transferred to the local governments — either Bay Lake or Lake Buena Vista, or more likely, Orange and Osceola counties.

Florida taxpayers could face a $1 billion Disney debt bomb if its special district status is revoked

The Florida legislature on Thursday cleared a bill that would dissolve Disney's special improvement district, effective June 2023.

www.cnbc.com

What gave you the idea that DiSantis cares about governance?

He wa to be President. And he sees pandering to a lowbrow trumpish mob is his ticket. That’s the kind of leadership that is becoming more and more numerous. Feed the mob new BS every few days and the clicks and the cash keep coming out of the mob’s pockets.

 

[ClaraD]

Disney went woke so now they're going broke. Enough tax breaks for mega companies already. Let them pay tribute the tax man like everyone else.

Um, how are they going broke if their extra tax liability is erased on their behalf and handed over to Florida tax payers to pay?

 

[ClaraD]

Wokeism is treating people who can't decide what sex they are the same as normal people. It's too creepy for me to buy into that lifestyle sad to say.

Why should any human be treated badly?

 

[mike2810]

From what I can gather this is a case of passing a Bill without understanding the ramifications.

If it goes into law and the people of Florida gets saddled with a bad law. They should remember come election time.

 

[justoneman]

Well this seems well thought out. The best part of basing your governance entirely on culture war is that it never, ever matters how badly you mess up. You could set the entire state on fire, and so long as a transexual kid is banned from her high school soccer team, it was totally worth it.

A repeal of Disney’s self-government status in Florida could leave local taxpayers with more than $1 billion in bond debt, according to tax officials and legislators.

The Florida House of Representatives on Thursday passed a bill that would dissolve Disney’s special improvement district, escalating Gov. Ron DeSantis’ attack on the company over its opposition to Florida’s Parental Rights in Education bill, dubbed by critics the “Don’t Say Gay” bill.

If the special district is dissolved, Orange and Osceola counties would have to provide the local services currently provided by Reedy Creek. And, the $105 million in revenue would disappear, meaning county and local taxpayers would be on the hook for part or all of the added costs.

“If you dissolved Reedy Creek, that $105 million in revenue literally goes away, it doesn’t get transferred,” Randolph said.

The reason: Reedy Creek is what’s known as an “independent tax district” meaning the tax revenues it generates are in addition to its local tax obligations, rather than a replacement of them. If the district is eliminated, the tax payments to Orange and Osceola counties would not increase, Randolph said.

But legislators and tax experts warn the bill creates an even larger potential problem for taxpayers in the form of bonds totaling more than $1 billion.

Reedy Creek has bond liabilities of between $1 billion and $1.7 billion, according to the district’s financial filings. Under Florida statute, if Reedy Creek is dissolved, those liabilities are transferred to the local governments — either Bay Lake or Lake Buena Vista, or more likely, Orange and Osceola counties.

Florida taxpayers could face a $1 billion Disney debt bomb if its special district status is revoked

The Florida legislature on Thursday cleared a bill that would dissolve Disney's special improvement district, effective June 2023.

www.cnbc.com

Municipalities can easily issue special taxes and fees directly to properties. Disney will pay.

 

[TheDoctorWasIn]

They're not getting any money from me on their plus channels if that means anything.

It doesn't.

 

[Khayembii Communique]

Disney went woke so now they're going broke. Enough tax breaks for mega companies already. Let them pay tribute the tax man like everyone else.

I'm still trying to figure out what the argument is that conservatives have against Disney, but as of yet have not seen any that make sense.

 

[americanwoman]

Wokeism is treating people who can't decide what sex they are the same as normal people. It's too creepy for me to buy into that lifestyle sad to say.

Normal like a guy named after a gerbil that was stuck up some guy’s ass? Yeah, that’s a no.

 

[mike2810]

Municipalities can easily issue special taxes and fees directly to properties. Disney will pay.

True. It has been reported that if a new tax district is formed by the county/municipalities the tax applied would be less than what Disney is currently paying in its current tax district. Has something to do with existing Florida laws setting the rates.

Also don't forget the Bond debt.

 

[Hamish Howl]

Wokeism is treating people who can't decide what sex they are the same as normal people. It's too creepy for me to buy into that lifestyle sad to say.

I'm sorry you feel that being a bigot is the right choice.

 

[Hamish Howl]

Why should any human be treated badly?

Because that's what right-wingers DO.

 

[ClaraD]

Municipalities can easily issue special taxes and fees directly to properties. Disney will pay.

They actually cannot directly tax them extra and above...that violates taxation without representation. The status quo was the only way in Florida to tax them extra