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“The corporate kingdom is finally coming to an end,” Florida Gov. Ron DeSantis declared after signing a bill giving the state control over Walt Disney World (New York Stock Exchange: DIS) Autonomous district.
The move was a long time comes and follows Fight “Don’t Say Gay” between Disney (DIS) and the Florida legislature last year (see more about the controversy here). DeSantis will be able to appoint a five-member board that will have outside oversight over the Reedy Creek Improvement District, which has its own bond and tax authority, and will no longer be exempt from certain state codes and regulations.
The “new red tape may deter DIS from new infrastructure investments in Florida in the medium term,” writes SA contributor Juxtaposed Ideas in an article discussing other impacts on the company’s theme parks.
