• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
PoliticsDisney

Florida Gov. DeSantis signed a law to dissolve Disney’s private government. But the district still doesn’t know what that means

By
Mike Schneider
Mike Schneider
,
Anthony Izaguirre
Anthony Izaguirre
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Mike Schneider
Mike Schneider
,
Anthony Izaguirre
Anthony Izaguirre
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
April 28, 2022, 7:23 AM ET
Add Fortune on Google for similar content.

At the first meeting of Walt Disney World’s private government since Florida Gov. Ron DeSantis signed into law a measure to dissolve it next year, officials said Wednesday they were still confused about what the new legislation meant, even as some ripple effects were starting to be felt.

The administrator of the government, called the Reedy Creek Improvement District, said the expansion of a solar power project could be delayed because of financing challenges linked to the legislation, and the union for the district’s firefighters expressed concerns about what the dissolution might mean for members’ lifetime benefits.

After the meeting, Donald Greer, who has been a member of Reedy Creek’s board of supervisors since 1975, said the board could not provide clear answers on those issues because “we don’t know where we are going.”

“The district may have a response as soon as we know what it means, but I don’t know if anybody knows what it means. I don’t think anyone has deciphered it,” Greer said.

The dissolution measure was passed quickly in the Republican-controlled statehouse without public study of its impact and was hastily signed into law by DeSantis. The move came in a GOP push to punish Disney over its opposition to another new law barring instruction on gender identity and sexual orientation in early grade school, which critics call “Don’t Say Gay.”

For the governor, the feud was the latest front in a culture war he has waged over policies involving race, gender and the coronavirus, battles DeSantis has harnessed to make himself one of the most popular Republicans in the country and a likely 2024 presidential candidate.

A day before DeSantis signed the bill into law, the Reedy Creek Improvement District sent a statement to investors that said it would continue its financial operations as usual. The district wrote that its agreement with the state forbids Florida from limiting or altering the district’s ability to collect taxes or fulfill its bond obligations.

Critics of the dissolution bill have warned that taxpayers in neighboring counties could end up shouldering about $1 billion in debts from the district. DeSantis has dismissed those concerns and said additional legislation would be drafted to clarify the future of such special districts in the state.

At the Reedy Creek meeting Wednesday, district administrator John Classe said a developer has experienced challenges financing a planned expansion of a solar power program, meaning it could be delayed.

Jon Shirey, the head of the union for Reedy Creek’s firefighters, who make up around half of the private government’s 400 employees, asked supervisors to give his members reassurances that their jobs and benefits would be preserved since they have been kept in the dark about what the effect is going to be. The firefighters, particularly retirees, are worried about losing their guaranteed lifetime health insurance, he said.

“We have been told to stay quiet, don’t talk to the media, don’t engage with current events,” Shirey told supervisors. “We have been told the leadership of the district will tell the story. They will be the ones putting out the message. I ask you, ‘What is that message?’”

The supervisors did not respond, and in fact spent little time devoted to the legislation which poses an existential threat to the 55-year-old Reedy Creek Improvement District. Classe told supervisors its workers would continue to function with the same “high standards and professionalism they always have done as we learn what this legally means.”

Backers of the dissolution of Reedy Creek have argued it removes an unfair advantage the entertainment giant has over other theme parks, including allowing it to issue bonds and set its own zoning standards.

At an event Monday, the governor assured a cheering crowd that Disney’s bond debts won’t be dumped on taxpayers.

“Under no circumstances will Disney be able to not pay its debts, we will make sure of that,” DeSantis said.

Credit rating agency Fitch Ratings has put Reedy Creek on a “negative watch” list, indicating that the private government’s ratings could stay the same or potentially be downgraded. A downgrade would make borrowing more difficult for Reedy Creek.

Another ratings agency, S&P Global Ratings, said that among the questions left unanswered by the new law was whether Reedy Creek would reconstitute after it’s dissolved next year, how utility operations and debt would be transferred to the neighboring governments if it came to that and how the neighboring governments would raise taxes to secure Reedy Creek’s debt.

Under the law, Reedy Creek would expire by June 2023. The lack of public answers from Reedy Creek leaders about the new law may come from fear “the governor will find their statements unfriendly and that will complicate things,” said Shirey, who added he is optimistic lawmakers will look after the interests of the district’s first responders.

“We have 14 months, and a lot can change between now and then,” Shirey said.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Authors
By Mike Schneider
See full bioRight Arrow Button Icon
By Anthony Izaguirre
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Mark Zandi, Moody's chief economist.
EconomyU.S. economy
‘It’s fair to ask whether it was worth it’: The Iran war has cost Americans $1,000 per household—and that’s a conservative estimate, Mark Zandi says
By Tristan BoveJuly 1, 2026
13 hours ago
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
PoliticsDonald Trump
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
By Mia OsmonbekovJuly 1, 2026
13 hours ago
Donald Trump sits at his desk in the Oval Office, smiling and with his hands folded in front of him.
PoliticsDonald Trump
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
14 hours ago
Anthropic CEO Dario Amodei
AIAnthropic
Anthropic’s AI models are back online after a two-week government standoff—settling the company and administration into a fragile truce
By Tristan BoveJuly 1, 2026
14 hours ago
US President Donald Trump during a Presidential memorandum signing in the Oval Office of the White House in Washington, DC, US, on Monday, June 29, 2026.
PoliticsDonald Trump
Inside Trump’s finances: World Cup tickets, a $250,000 golf sculpture, over $1 billion in crypto earnings, and a merch machine
By Eleanor PringleJuly 1, 2026
20 hours ago
senate
CommentaryCongress
One rare bipartisan AI bill is moving through Congress. Here’s why it deserves to pass
By Neil Björkman and Betsy BrewerJuly 1, 2026
20 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
24 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
22 hours ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
18 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.