ine acknowledges that the local entities where Reedy Creek lies will pick up the Reedy Creek's debt once the district is dissolved, but says those local governments can create Municipal Service Taxing Units (MSTU) that would also "pick up the revenue that would be going to pay for the debt." He insists that "There's no impact to taxpayers."
DISNEY STOCK TUMBLES AMID FLORIDA BILL CONTROVERSY
Randolph argues that according to Florida statute, the local governments cannot impose MSTUs on Reedy Creek because it is an independent tax district. Therefore, he says, when that incorporated municipality dissolves, Disney would have no obligation to pay the $163 million each year.
Fine says that's why the service taxing units are municipal, and therefore not something handled by the state. "Scott Randolph's job is to open envelopes and to take out checks," the lawmaker told FOX Business. "He probably should stick to that. He doesn't set tax policy."
Randolph said, "Randy Fine doesn't understand basic math."
Raldolph says the bill against Disney was rushed through in 48 hours without legislators working out the details, but acknowledges that there is over a year for local municipalities to work out how they will manage the transition.
He added, "That's like putting a gun to my head for the next year."
after signing the legislation into law, DeSantis' office issued a statement clarifying that "it is not the understanding or expectation for SB 4-C, abolishing independent special districts, to cause any tax increases for the residents of any area of Florida."
The statement continued, "In the near future, we will propose additional legislation to authorize additional special districts in a manner that ensure transparency and an even playing field under the law."
https://www.foxbusiness.com/politics/disney-stripped-special-status-florida-local-taxpayers