Much ado has been made about the legality of Florida’s
Senate Bill 4Cpurporting to dissolve Disney’s Reedy Creek Improvement District: whether it was retaliation prohibited by the First Amendment, whether it was passed with sufficient formality, and so on," wrote Schumer. "But there’s a much more basic reason Florida can’t dissolve Reedy Creek — it promised bond purchasers that it wouldn’t."
On Tuesday, writing for Bloomberg Tax, attorney Jacob Schumer walked through how the plan by Gov. Ron DeSantis (R-FL) to strip the Walt Disney corporation of its special tax status could run into a brick wall.The plan, passed as part of a special session bill in which legislators also approved...
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Those fiduciary responsibilities can be a problem.