“If Disney wants to pick a fight, they chose the wrong guy,” DeSantis wrote in a campaign fundraising email on 20 April. That legislation states that Florida “will not in any way impair the rights or remedies of the holders, and that it will not modify in any way the exemption from taxation provided in the Reedy Creek Act”, until bonds Disney owes Florida are paid.ĬNN reported that Reedy Creek owes Florida $1bn in bond debt.ĭeSantis, a Republican in the Donald Trump-mold who is seen as having presidential aspirations, has pushed the legislation to repeal Disney’s arrangement with Florida. In a statement posted to the Municipal Securities Rulemaking Board, Disney pointed to an agreement between Florida and the company when the Reedy Creek improvement district was created in 1967. On Wednesday, however, Disney said the move is not legal, because of an agreement that Reedy Creek must pay off its debts to the state before any changes are made. The effort is widely seen as a response to Disney’s criticism of a new GOP law, which bars instruction on sexual orientation and gender identity in kindergarten through third grade.