'Corporate kingdom finally comes to an end': Disney's Reedy Creek Improvement District dissolved ...

Governor Ron DeSantis signs a new law that takes control of Disney's Reedy Creek Improvement District. Good afternoon. I'm Tiffany Kenny. And I'm Natalie Pozo. Thank you so much for joining us for WPBF 25 News at noon. The area now no longer under Disney's control and give the states the power over it. It even has a new name.

Morning anchor Stephen Graves is here with what the governor is saying. Good afternoon, Stephen. Yeah, Tiffany, Natalie, soon after signing this law, Governor Ron DeSantis touted what he calls the benefits specifically to taxpayers. All through the Reedy Creek era, there would be major projects that would be done in Orange and Osceola counties that would basically feed in to Reedy Creek, but they wouldn't pay any of it for it, even though they're one of the probably the most valuable piece of property. So there's specific provision in the bill given the state under the control board, the ability to assess the taxes so that they're pulling their weight. So the newly signed law gives the governor the power to appoint a five member board before that Disney hat that oversight. Now the Reedy Creek name also changes to the Central Florida oversight district.

Now this notably comes after Disney voiced opposition to the parental rights and education law, which critics call the don't say gay law. Now, no response from Disney just yet on the governor's latest action, but in a statement issued after the state legislator passed the bill to dissolve the special district, the president of Walt Disney World Resort says the company is ready to work within this new framework.

West Palm Beach