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88-632: The Central Florida Tourism Oversight District ( CFTOD ), formerly the Reedy Creek Improvement District ( RCID ), is the governing jurisdiction and special taxing district for the land of Walt Disney World Resort . It includes 39.06 sq mi (101.2 km) within Orange and Osceola counties in Florida, encompassing the cities of Bay Lake and Lake Buena Vista as well as unincorporated land. It acts with most of

176-675: A "shell" company as follows: Shell company: The term shell company means a registrant, other than an asset-backed issuer as defined in Item 1101(b) of Regulation AB (§ 229.1101(b) of this chapter), that has: (1) No or nominal operations; and (2) Either: (i) No or nominal assets; (ii) Assets consisting solely of cash and cash equivalents; or (iii) Assets consisting of any amount of cash and cash equivalents and nominal other assets.' Some shell companies may have previously had operations that shrank due to unfavorable market conditions or company mismanagement. A shell corporation may also arise when

264-610: A building in Lake Buena Vista, east of Disney Springs. The District runs the following services, primarily serving Disney: Disney provides transportation for guests and employees in the form of buses, ferries, and monorails , under the name Disney Transport . In addition, several Lynx public bus routes enter the District, with half-hour service between the Transportation and Ticket Center (and backstage areas at

352-519: A certain country; e.g. Double Irish arrangement . A special purpose entity , used often in the context of a larger corporate structure, may be formed to achieve a specific goal, such as to create anonymity . According to a 2013 experimental study where the researchers requested anonymous incorporation in violation of international law, one in four corporate service providers offered to provide services in violation of international law. Shell companies can be used to transfer assets of one company into

440-424: A company's operations have been wound up, for example following a takeover, but the "shell" of the original company continues to exist. The term "shell corporation" does not describe the purpose of a corporate entity, but in general is more informative to classify an entity according to its role in a particular corporate structure; e.g. holding company , general partner , or a limited partner . Shell companies are

528-487: A development agreement. This enacted restrictive covenants to limit the Improvement District's governing power over Disney properties, which include Walt Disney World . According to Peri, "This essentially makes Disney the government. This board loses, for practical purposes, the majority of its ability to do anything beyond maintain the roads and maintain basic infrastructure." The agreement stated that, if

616-543: A first-come order. Disney was criticized for the move, with a Republican gubernatorial candidate filing a lawsuit to stop the RCID from using the funds. Also, one state legislator moved to limit the RCID's ability to apply for the program. In 1993, the land that eventually became the Disney-controlled town of Celebration, Florida —which was built with many of Walt Disney 's original ideas that had since evolved into

704-467: A form of New Urbanism —was deannexed from Bay Lake and the District. This was done to keep its residents from having power over Disney by providing for separate administration of the areas. Celebration lies on unincorporated land within Osceola County , with a thin strip of still-incorporated land separating it from the rest of the county. This strip of land contains canals and other land used by

792-456: A governmental area or by their governmental representatives. Special districts possess some form of civil office , that is, the board has received a delegation of sovereign power from the state. Some boards may be appointed by only landowners. Private entities may appoint some or all of the members of a special district; however, there must be evidence of civil office. In addition to special districts with privately appointed boards,

880-423: A governor's radical-right political agenda". The bill which abolished the district did not have any provisions for the logistics or debt. Under its enabling act, the state vowed to bondholders that it wouldn't impair the ability of Reedy Creek to service its debt. By dissolving the district, the debt would have been subsumed by Orange and Osceola Counties. On May 16, 2022, Florida Governor Ron DeSantis said that he

968-515: A law to disestablish the RCID and other special districts formed before November 5, 1968, an act that some lawmakers said was retaliation for Disney's opposition to the controversial Parental Rights in Education Act , dubbed the "Don't Say Gay" bill by its critics. The law would have taken effect in June 2023, but it was unclear what would happen to the $ 1 billion in bond liabilities held by

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1056-594: A main component of the underground economy , especially those based in tax havens . They may also be known as international business companies , personal investment companies , front companies , or " mailbox " companies . While these terms are generally used interchangeably in practice, their meanings are not the same and each term is generated to refer to a different theme of illegality. Shell companies can also be used for tax avoidance. A classic tax avoidance operation may utilize favorable transfer pricing among multiple corporate entities to lower tax liability in

1144-599: A much larger area of land for the new project. He flew over the Orlando -area site, and many other potential sites, in November 1963. Seeing the well-developed network of roads, including the planned Interstate 4 and Florida's Turnpike , with McCoy Air Force Base (later Orlando International Airport ) to the east, he selected a centrally located site near Bay Lake . He used multiple shell companies to buy up land, at very low prices, that eventually would be included within

1232-508: A new company without having the liabilities of the former company. For example, when Sega Sammy Holdings purchased the bankrupt Index Corporation in June 2013, they formed a shell company in September 2013, called Sega Dream Corporation, into which were transferred valuable assets of the old company, including the Atlus brand and Index Corporation's intellectual property . This meant that

1320-460: A perpetual term is deemed invalid, a royal lives clause would be used in its place: namely, the agreement "shall continue until twenty-one (21) years after the death of the last survivor of the descendants of King Charles III , king of England, living as of the date of this agreement." Before the passage of House Bill 9 in 2023 (HB 9 2023), the Board of Supervisors was elected by the landowners of

1408-619: A political position, it violated the company's free speech rights under the First Amendment to the United States Constitution . Another argument is that the dissolution violates the contract the state of Florida made with bondholders not to alter or limit the powers of the district until all bonds were paid off, making the dissolution unconstitutional under the Contract Clause . Under Florida law, when

1496-595: A provision in the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 . A "Task Force On Shell Corporations" was constituted in 2017 under the chairmanship of the Revenue Secretary to the Government Of India and Corporate Affairs Secretary to Govt. Of India, for effectively tackling malpractice by shell companies in a comprehensive manner. On 22 December 2021,

1584-551: A public register in order to prevent anonymous use of shell companies. The new customer due diligence (CDD) rule from 2016 forces banks to know the names of their customers in order to reveal them to law enforcement agencies upon request. Thereby, anonymous misuse of shell companies shall be prevented. The rule is administered by the Financial Crimes Enforcement Network (FinCEN). In January 2021 anonymous shell companies were effectively banned via

1672-414: A salary (or fees, consulting fees, etc.) from the company's profits. In addition, there are several shell companies that are used by broadcasting groups to circumvent FCC limits on television station ownership. For example, Sinclair Broadcasting Group forms local marketing agreements with stations owned by Cunningham Broadcasting and Deerfield Media ; nearly all of the stock of Cunningham Broadcasting

1760-516: A special district government, like the Reedy Creek Improvement District, is dissolved, the dissolution transfers "title to all property owned by the preexisting special district government to the local general-purpose government, which shall also assume all indebtedness of the preexisting special district." In 1866, the U.S. Supreme Court ruled that "once a local government issues a bond based on an authorized taxing power,

1848-426: A special district government, rather than as a subordinate agency, an entity must possess three attributes—existence as an organized entity, governmental character, and substantial autonomy. Each state description also lists various statutory authorities, commissions, corporations, and other forms of organizations that have certain governmental characteristics, but are subject by law to administrative or fiscal control by

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1936-451: A special district may have a privately founded board; however, such a board could not be given the power to set a tax. There is a citizen-government fiscal accountability relationship. To maintain accountability for special districts, states must maintain ultimate control (the power to repeal the authorizing law at any time). Due to public foundation and, thus, ultimate control, the state can freely delegate sovereign power (such as

2024-508: A specific goal such as anonymity . Anonymity, in the context of shell companies, relates to anonymity of beneficial owners of the company. Anonymity may be sought to shield personal assets from others, such as a spouse when a marriage is breaking down, from creditors, or from government authorities. Shell companies' legitimate business purposes are, for example, acting as trustee for a trust, and not engaging in any other activity on their own account. This structure creates limited liability for

2112-445: A supervisor. The members appointed to the board following changes to the district in 2023, subject to Senate confirmation, are as follows: Controversy arose after the nominations, as all five proposed members are allies of Ron DeSantis , have donated to his political campaigns, or are active in other right-wing circles. Ziegler founded Moms for Liberty , a conservative group promoting "anti- woke " school policies and board members, and

2200-519: A tax haven, where it is described as an offshore company. The shell company would purchase the products in its name, mark up the products and sell them on to the US company, thereby transferring the profit to the tax haven. (The products may never actually physically pass through that tax haven, and be shipped directly to the US company.) As the shell company is not based in the United States, its profit

2288-534: A tax increase in cities and counties across Florida, which could endanger governor Ron DeSantis ' nomination for the Republican Party in the 2024 presidential election . Concerns over possible debt transfer to counties, and taxpayers in Orange and Osceola Counties having to start paying for some Disney World services such as police, fire protection and road maintenance, led the legislature to mostly revert

2376-402: Is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. It may hold passive investments or be

2464-671: Is controlled by trusts in the name of the owner's children. Other examples include Nexstar Media Group controlling television stations owned by Mission Broadcasting and Vaughan Media . Typical countries of domicile of shell companies are offshore financial centres like Ireland , Liechtenstein , Luxembourg , Switzerland , Isle of Man , and the Channel Islands including Guernsey and Jersey in Europe, Bahamas , Barbados , Bermuda , Cayman Islands , and Virgin Islands in

2552-422: Is looking into making the government take control of the special district but promised that local and state tax payers would not be paying for Reedy Creek's outstanding debt. In 2023, DeSantis announced he would rename the district to Central Florida Tourism Oversight District instead of dissolving it, and replace five-board members which had been selected by Disney, with a new board with five members hand-picked by

2640-399: Is not subject to US income tax, and as it is an offshore company in the tax haven jurisdiction, it is not taxed there either. Under the tax haven law, the profits are deemed not to have been made in the jurisdiction, with the sale deemed to have taken place in the United States. As US personal income tax is significantly less important than corporate income tax, US company executives would claim

2728-758: Is now The Walt Disney Company , petitioned the Circuit Court of the Ninth Judicial Circuit , which served Orange County, Florida , for the creation of the Reedy Creek Drainage District under Chapter 298 of the Florida Statutes . After a period during which some minor landowners within the boundaries opted out, the Drainage District was incorporated on May 13, 1966, as a public corporation. Among

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2816-474: The Attorney General of Florida has issued an opinion stating that this includes state requirements for developments of regional impact (DRIs). In January 1990, the RCID was granted a $ 57-million allocation of tax-free state bonds over an agency with plans for a low-income housing development and all additional government applicants in a six-county region, as the state distributed the bond proceeds on

2904-529: The Florida Senate passed Senate Bill 4C (SB 4C) with a 23–16 vote that would abolish the special taxing district. If it became law, the bill would dissolve any independent special district in Florida established prior to November 5, 1968, including the RCID; the dissolution would take effect June 1, 2023. On April 21, 2022, the bill was passed by the Florida House by a 70–38 vote. DeSantis signed

2992-635: The International Consortium of Investigative Journalists published a report called "Offshore Leaks" with information about the use and owners of 130,000 shell companies. Many of the shell companies belonged to politicians and celebrities from around the world and were being used for tax evasion and hiding financial assets. In 2016 a leak of 11.5 million documents to the German newspaper Süddeutsche Zeitung revealed information about owners of more than 214,000 shell companies administered by

3080-588: The Magic Kingdom ) and Downtown Orlando and Kissimmee , and once-a-day service to more points, intended mainly for cleaning staff. Half-hourly service is provided, via Lynx, to Orlando International Airport (MCO). The Reedy Creek Fire Department (RCFD) was created in 1968 to provide fire suppression for RCID. Today, RCFD provides fire suppression, emergency medical services, 911 communications, fire inspections, technical rescue services, and hazardous materials mitigation. EMS makes up approximately 85 percent of

3168-523: The Bay Lake city limits and the Magic Kingdom, and then meanders south through Disney property, passing between Disney's Animal Kingdom and Blizzard Beach . It crosses Interstate 4 and exits Disney property west of Celebration and runs mostly through undeveloped territory east of Haines City . It empties into Lake Russell, and continues flowing southward into Cypress Lake, which is connected to

3256-789: The Caribbean, Panama in Central America, and Hong Kong and Singapore in Asia. Shell companies are usually offered by law firms based in those countries. The process of establishing a shell company can sometimes be done very quickly online. In 2021 anonymous corporations were made illegal in the United States with the passage of the Corporate Transparency Act as part of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 . Exemptions were included which are meant to limit its scope to

3344-624: The Disney Company had the authority of a governmental body, but was not subject to the constraints of a governmental body. That changed under the 2023 act, which gave the governor of Florida the authority to name its board members, replacing the original five-member Board of Supervisors controlled by the Walt Disney Company, the majority landowner of the District. In April 2022, the Florida Legislature passed

3432-645: The Disney company and other members of the Florida state legislature was underway to keep the main Reedy Creek Improvement District agreement, since the District abolition law is yet to take effect. Such compromise was reportedly being drafted especially because former Disney CEO Bob Chapek , who openly opposed the Parental Rights in Education law , was fired, and the abolition of the District would represent

3520-525: The District, who receive one vote per acre of land. As the majority landowner in Reedy Creek, The Walt Disney Company essentially handpicked the members of the Board. Under this model, each member owned an undeveloped five-acre (2.0 ha) lot of land within the District—the only land in the District not technically controlled by Disney or used for public road purposes. The District headquarters are in

3608-480: The District. On March 30, 2022, State Representative Spencer Roach tweeted that Florida legislators had met twice within the past week to discuss the possibility of repealing the Reedy Creek Improvement Act and stripping Disney of its "special privileges" in the state. Roach and Florida governor Ron DeSantis later criticized Disney for the "special perks" the company enjoyed through use of

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3696-530: The Governor and confirmed by the Florida State Senate , and some parts of the district's authority would be removed, such as the power to potentially construct a nuclear power plant, airport, and stadium. Governor DeSantis signed the bill on February 27. Reedy Creek is a natural waterway whose flow, drainage, and destination have been altered over the years by human development. It begins west of

3784-489: The Improvement District and Cities were created to serve "the needs of those residing there", because the company needed its own government to "clarify the District's authority to [provide services] within the District's limits", and because of the public nature of the planned development. The original city boundaries did not cover the whole Improvement District; they may have been intended as the areas where communities would be built for residential use. To maintain full control of

3872-606: The Incorporated Guardians of the Poor, which were created by special acts in the 17th century. Turnpike trusts were an early and popular special purpose authority in England. Internal drainage boards are current examples in parts of England and Wales. The state of Illinois leads the nation in the number of special districts with California close behind. State counts of their special districts may differ from

3960-545: The Kissimmee Chain of Lakes. The district is governed by a five-member Board of Supervisors. Each supervisor is appointed by the Governor of Florida and confirmed by the Florida Senate. Supervisors serve for terms of four years, and may serve for up to three consecutive terms. Any individual currently or within the past three years employed by a theme park or entertainment company is prohibited from serving as

4048-625: The Mouse: Walt Disney World and Orlando , that the Disney company abused its powers by remaining in complete control of the District. In 1968, the Reedy Creek Improvement Act was held by the Supreme Court of Florida not to violate any provision of the state constitution . As the law, in part, declares that the District is exempt from all state land use regulation laws "now or hereafter enacted,"

4136-478: The Orlando chapter of the conservative Federalist Society , and Brian Aungst Jr. is a conservative Pinellas County attorney previously appointed to the 6th Circuit judicial nominating commission. Over the course of two public meetings, with the second on the day before the new Central Florida Tourism Oversight District was to take control, The Walt Disney Company and the Reedy Creek Improvement District signed

4224-405: The RCID. On February 9 and 10, 2023, the state legislature voted to revert most of the changes, replace the RCID board's five Disney-selected members with five members appointed by the Governor with confirmation by the Florida State Senate , and remove parts of the district's authority, such as the power to construct a nuclear power plant, airport, and stadium. The district's name was changed the day

4312-419: The RCID. Roach said there had been previous attempts to eliminate the district. A bill analysis and fiscal impact statement for the bill was created on April 19, 2022, by Senator Jennifer Bradley . However, this analysis was unable to determine the impact the bill would have on either the residents served by the special district, or the local governments that would absorb the district's debts. On April 20, 2022,

4400-590: The United States are founded by some level of government in accordance with state law (either constitutional amendment, general law, or special acts) and exist in all states. Special districts are legally separate entities with at least some corporate powers. Districts are created by legislative action, court action, or public referendum . The procedures for creating a special district may include procedures such as petitions , hearings, voter or landowner approval, or government approval. Tribal governments may create special districts pursuant to state law and may serve on

4488-538: The United States follow the English custom. The earliest known general law in England authorizing special purpose authorities was the Statute of Sewers of 1532. Single purpose authorities created by individual charters also existed at the time. However, the early authorities were temporary and unconnected to local government structure. The first laws authorizing permanent authorities connected to local governments were

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4576-416: The United States, shell companies are often set up in states such as Delaware , Nevada , and Wyoming due to advantageous tax regimes. Shell companies have been used to commit fraud, by creating an empty shell company with a name similar to existing real companies, then running up the price of the empty shell and suddenly selling it ( pump and dump ). There are also shell companies that were created for

4664-405: The bill into law the following day. Some members of the Florida Legislature as well as political commentators said the bill was likely retaliation for Disney announcing its opposition to the Parental Rights in Education Act , dubbed by critics as the "Don't Say Gay bill". Representative Dotie Joseph dubbed SB 4C "un-American" adding that it was "[p]unishing a company for daring to speak against

4752-424: The bill was signed into law by Governor Ron DeSantis on February 27, 2023. On April 26, 2023, Disney filed a lawsuit against DeSantis. Federal Judge Allen Winsor ruled in favor of DeSantis on January 31, 2024, and Disney appealed to the 11th Circuit Court of Appeals . On March 27, 2024, Disney settled its state court lawsuits with CFTOD and, per the agreement, put the appeal of their federal lawsuit on hold while

4840-1043: The board. The board of a special district serves primarily as a managing board and often appoints a chief executive for day-to-day operations and decision making and policy implementation. In the New England states, special districts are often run in the same town meeting fashion as other local governments. Most districts have employees, but some districts exist solely to raise funds by issuing bonds and/or by providing tax increment financing . Special districts perform many functions including airports , ports , highways , mass transit , parking facilities , fire protection , libraries , parks , cemeteries , hospitals , irrigation , conservation , sewerage , wastewater treatment , solid waste , fiber optic systems , stadiums , water supply , electric power , and natural gas utility . Special districts are authorized by state law and must have public foundation, civil office , and public accountability . Special districts in

4928-403: The boards of special districts. Special districts, like all public entities, have public foundation. The landmark case of the U.S. Supreme Court addressing public versus private charters was Dartmouth College v. Woodward in 1819. Dartmouth established the fundamental differences between public and private organizations. Critically, a government must be founded by all of the people of

5016-831: The call volume, with RCFD providing both Advanced Life Support and Basic Life Support. Its name was changed to District Fire Department in 2024. RCFD currently staffs four fire stations located throughout the district with 138 personnel across three shifts. They also maintain a staff of 86 administrative and support personnel including EMS team members (primarily located in each of the four Walt Disney World theme parks), 911 communicators, and fire inspectors. There are four engines, two tower trucks, one squad unit, eight rescue ambulances, and several special units. 28°21′N 81°34′W  /  28.35°N 81.56°W  / 28.35; -81.56 Special district (United States) The United States Census counts government units across all States. This includes "special districts". To count

5104-519: The changes. On February 9 and 10, 2023, the Florida State House and Senate, respectively, passed bills in a special session allowing the special tax district to remain, as well as leaving the ability for Disney to issue tax-exempt bonds and approve development plans without scrutiny from certain local regulators in place. Disney would no longer be able to appoint the five members of the tax district's board, which would instead be appointed by

5192-633: The company negotiates a new development agreement with CFTOD. The settlement came a day after DeSantis replaced two Disney critics on the CFTOD with two Disney supporters and two weeks after The Parental Rights in Education Act was largely overturned by a court. After the success of Disneyland in California, Walt Disney began planning a second park on the East Coast. He disliked the businesses that had sprung up around Disneyland, and wanted control of

5280-461: The creation of the Reedy Creek Improvement District, which would have almost total autonomy within its borders. Residents of Orange and Osceola counties did not need to pay any taxes unless they were residents of the district. Services like land use regulation and planning, building codes, surface water control, drainage, waste treatment, utilities, roads, bridges, fire protection, emergency medical services, and environmental services were overseen by

5368-424: The district, it was important for Disney to limit the voting rights of the inhabitants, rights which were only meant to include landowners owning more than one-half acre. Since Disney owned most of the land, the residents would simply be renting their homes. But after the 1968 Avery v. Midland County case, Disney feared that they would have to eventually give everyone living inside the district voting rights, and so

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5456-545: The district. The only areas where the district had to submit to the county and state would be property taxes and elevator inspections. The planned EPCOT city was also emphasized in this lobbying effort. On May 12, 1967, Governor Claude R. Kirk Jr. signed the Reedy Creek Improvement Act , adding the following Florida statutes to implement Disney's plans: According to a press conference held in Winter Park, Florida on February 2, 1967, by Disney Vice President Donn Tatum ,

5544-525: The district. These company names are listed on the upper story windows of what is now the Main Street USA section of Walt Disney World , including Compass East Corporation; Latin-American Development and Management Corporation; Ayefour Corporation (named for nearby I-4 ); Tomahawk Properties, Incorporated; Reedy Creek Ranch, Incorporated; and Bay Lake Properties, Incorporated. On March 11, 1966, these landowners, all fully owned subsidiaries of what

5632-563: The entities most likely to be used for illicit purposes. Companies which are exempt from the act include foreign companies that do not formally register to do business and companies that fall into one of 24 enumerated categories, which include companies that employ more than 20 people, have revenues above $ 5 million, and a physical presence in the United States, as well as churches, charities, non-profits, trusts and partnerships. Companies that are banks, broker-dealers, public issuers, and insurance companies are also exempt. Due to federalism in

5720-481: The federal count because the states may have different definitions of a special district than the U.S. Census Bureau. All of the following examples have been found by the U.S. Census Bureau to be special districts. See the Census of Governments Government Organization publications at a depository library or visit https://www.census.gov and select Governments Division. Shell companies A shell corporation

5808-436: The former jurisdiction of the RCID. A tax collector for Orange County claimed the RCID's abolition would increase costs for taxpayers. Florida Senate Democratic member Gary Farmer also highlighted concerns that the dissolution would transfer over $ 1 billion in bond liabilities to all Florida taxpayers. Analysts expected legal challenges to the dissolution. One argument was that because the law targeted Disney in retaliation for

5896-723: The governor. This was approved by the Florida state legislature on February 9 and 10, 2023. The bill was signed by Governor Ron DeSantis on February 27. The bill was passed after two days of discussions and without a fiscal impact analysis. This led to debates about the bill's effects on taxes and bond debt . Randy Fine , the Republican House sponsor of the bill, claimed a different type of district could be formed that would not move additional costs to taxpayers. Disney already pays property taxes to Orange and Osceola counties. The bill would not increase these counties' revenues but would force both counties to increase services within

5984-469: The law firm Mossack Fonseca in Panama. The shell companies were used by politicians, businessmen, autocrats, and terrorists from around the world for tax evasion and other illegal activities. After India's decision to demonetise ₹500 and ₹1000 rupee notes on 8 November 2016, various authorities noticed a surge in shell companies depositing cash in banks, possibly in an attempt to hide the real owner of

6072-746: The less conspicuous tasks of mosquito abatement and upkeep of cemeteries. The Census Bureau classification of special district governments covers a wide variety of entities, most of which are officially called districts or authorities. Not all public agencies so termed, however, represent separate governments. Many entities that carry the designation "district" or "authority" are, by law, so closely related to county, municipal, town or township, or state governments that they are classified as subordinate agencies of those governments in Census Bureau statistics on governments, and are not counted as separate special district governments. In order to be classified as

6160-404: The liabilities of the old company were left in the old company, and Sega Dream had clean title to all the assets of the old company. The former Index Corporation was then dissolved . Sega Dream Corporation was renamed as Index Corporation in November 2013. When Hilco purchased HMV Canada , they used a shell company by the name of Huk 10 Ltd. in order to secure funds and minimize liability. HMV

6248-403: The original RCID was Walt Disney's proposal of the " Experimental Prototype Community of Tomorrow " (EPCOT), a real planned community intended to serve as a testbed for new city-living innovations. However, the company eventually abandoned Walt Disney's concepts for the experimental city, primarily only building a resort similar to its other parks. The Reedy Creek Improvement District managed by

6336-417: The population was restricted to the two municipalities Bay Lake and Lake Buena Vista. After Walt Disney died in 1966, the Disney company board decided that it did not want to be in the business of running a city, and abandoned many of his ideas for Progress City. The planned residential areas that Walt originally advocated for were never built. Richard Foglesong would later argue in his 2003 book, Married to

6424-538: The power to tax) to special districts and can allow them to act autonomously with little supervision. There is little information available on the earliest special districts in the United States. It is known that park districts existed in the 18th century. Toll road and canal corporations existed in the 19th century. The first general statute authorizing irrigation districts was adopted by California in 1887. The U.S. Census Bureau began identifying and collecting data on special districts in 1942. Special districts in

6512-504: The powers of a Drainage District were the power to condemn and acquire property outside its boundaries "for the public use". It used this power at least once to obtain land for Canal C-1 (Bonnet Creek) through land that is now being developed as the Bonnet Creek Resort , a non-Disney resort. Walt Disney knew that his plans for the land would be easier to carry out with more independence. Among his ideas for his Florida project

6600-470: The purpose of owning assets (including tangibles, such as a real estate for property development, and intangibles, such as royalties or copyrights ) and receiving income. The reasons behind creating such a shell company may include protection against litigation and/or tax benefits (some expenses that would not be deductible for an individual may be deductible for a corporation). Sometimes, shell companies are used for tax evasion or tax avoidance . In 2013

6688-551: The registered owner of assets, such as intellectual property , or ships. Shell companies may be registered to the address of a company that provides a service setting up shell companies, and which may act as the agent for receipt of legal correspondence (such as an accountant or lawyer). The company may serve as a vehicle for business transactions without itself having any significant assets or operations. Shell companies are used for legitimate purposes but can be used for tax evasion , tax avoidance , money laundering , or to achieve

6776-420: The same authority and responsibility as a county government . The current district was created on February 27, 2023, after the Florida Legislature passed House Bill 9B to supersede the Reedy Creek Improvement Act , passed in 1967 at the behest of Walt Disney and his namesake media company during the planning stages of Walt Disney World. A major selling point in lobbying the Florida government to establish

6864-439: The size of cubicles. Since shell companies are very often abused for various illegal purposes, regulation of shell companies is becoming more important to prevent such illegal activities. Currently British overseas territories and crown dependencies are only required to tell the true name of owners of shell companies upon request from official law enforcement agencies. However, since 2020 they are forced to publish these names in

6952-529: The special districts the Census must define the special districts so as to address all such governmental entities across the broad spectrum of 50 states' definitions and interpretations. The Census's full definition is: Special district governments are independent, special purpose governmental units, other than school district governments, that exist as separate entities with substantial administrative and fiscal independence from general purpose local governments. As defined for Census Bureau statistics on governments,

7040-602: The state is contract-bound and cannot eliminate the taxing power supporting the bond". Local taxpayers did file suit in federal court, but this was dismissed in May 2022 for lack of standing for the First Amendment issue, and lack of demonstrated injury to the taxpayers. It was refiled in state court the same month. On December 2, 2022, the Financial Times reported that a deal between Representative Randy Fine ,

7128-620: The state or by independent local governments; therefore, they are classified as subordinate agencies of those governments. Special districts serve limited areas and have governing boards that accomplish legislatively assigned functions using public funds . Each district is governed by a board of directors , commissioners , board of supervisors , or the like. These boards may be appointed by public officials , appointed by private entities, popularly elected, or elected by benefited citizens (typically, property owners). Sometimes, one or more public officials will serve as an ex officio member on

7216-518: The term "special district governments" excludes school district governments as they are defined as a separate governmental type. Special district governments provide specific services that are not being supplied by existing general purpose governments. Most perform a single function, but in some instances, their enabling legislation allows them to provide several, usually related, types of services. The services provided by these districts range from such basic social needs as hospitals and fire protection, to

7304-640: The trustee. A corporate shell can also be formed around a partnership to create limited liability for the partners, and other business ventures, or to immunize one part of a business from the risks of another part. Shell companies can be used to transfer assets from one company into a new one while leaving the liabilities in the former company. Shell companies are also used for privacy and security reasons by wealthy individuals and celebrities. Accordingly, shell companies may be used to generate both pecuniary and non- pecuniary private benefits by their beneficial owners. The U.S. Securities and Exchange Commission defines

7392-563: The wealth. In response, in July 2017, the authorities ordered nearly 2,000 shell companies to be shut down while Securities and Exchange Board of India (SEBI) imposed trading restrictions on 162 listed entities as shell companies. A high-level task force found that hundreds of shell companies were registered in a few buildings in Kolkata . Many of those were found to be locked, with their padlocks coated in dust and many others which had office space

7480-620: Was a primary proponent of the Parental Rights in Education Act. Her husband was elected to lead the Republican Party of Florida shortly before the governance changes to the district went into effect. Martin Garcia, the proposed new chairperson of the board, donated $ 50,000 to DeSantis' political action committee , and according to Forbes , "was also named in court testimony as having been consulted when DeSantis' administration

7568-575: Was his proposed EPCOT , the Experimental Prototype Community of Tomorrow, which was to be a futuristic planned city (and which was also known as Progress City). He envisioned a real working city with both commercial and residential areas, but one that also continued to showcase and test new ideas and concepts for urban living. Therefore, the Disney company petitioned the Florida State Legislature for

7656-492: Was preparing to suspend local prosecutor Andrew Warren for espousing pro-abortion rights views". Ron Peri runs The Gathering USA, a conservative Christian ministry for men in Florida, and previously claimed "estrogen in the water from birth control pills" has contributed to a rise in homosexuality, and has called homosexuality "shameful", "deviant", and that it was a cause of decline for the Roman Empire . Michael Sasso runs

7744-427: Was then sued by Huk 10 Ltd., allowing Hilco to regain assets and dispose of HMV Canada. As another example, the use of a shell company in a tax haven makes it possible to move profits to that shell company, in a strategy of tax evasion . A United States company buying products from overseas would have to pay US taxes on the profits, but to avoid this, it may buy the products through a non-resident shell company based in

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