Ron DeSantis Signs Bill into Law, Giving Him New Power Over Walt Disney Co.

Florida Gov. Ron DeSantis signed a bill into law on Monday that will give him new power over Walt Disney Co., effectively punishing the entertainment giant for speaking out against the Republican’s political agenda.

The new law cancels the scheduled dissolution of a special taxing district for the 25,000 acres owned by Disney south of Orlando, which lawmakers passed and DeSantis signed into law over a three-day span last April. This would have imposed a $1.2 billion tax hike on Central Florida residents.

The law amounts to a state takeover of the Reedy Creek Improvement District, the government body that has given Disney unique powers in Central Florida for more than half a century. It allows the governor to replace the district’s existing board – mostly people with ties to Disney – with a five-member body that he hand-picks.

At a Reedy Creek fire station in Lake Buena Vista, Florida, DeSantis declared that “the corporate kingdom is over.” He added that the new law will ensure that the district’s powers are used for the benefit of the people of Florida.

The law is seen as a response to Disney’s criticism of DeSantis’ “Don’t Say Gay” law, which was passed last year. The law prohibits teachers from discussing LGBTQ issues in the classroom. Disney had spoken out against the law, saying it was “not in line with our company’s values.”

The new law is expected to have a major impact on the Central Florida region, as Disney has long been a major employer and economic driver in the area. It remains to be seen how the new law will affect Disney’s operations in the region.