I'm glad someone started a thread because I legit burst out laughing when I saw that some legislator was threatening to end the Reedy Creek exemption. At this point of the property's existence, it would probably help more than hurt the company to kill off RCID.
What taxes do you reckon they save? They pay property taxes to Orange County *and* Reedy Creek and the combined millage rates are astronomical compared to the rest of the county (
here). If Reedy Creek disappears and Orange County "runs" the district, things like RCFD go away and the cost of providing firefighting/paramedics to WDW gets absorbed by Orange County and the incremental cost gets spread across all of Orange County's tax base. Same with electricity, water, and basically everything utility/infrastructure related.
Just to put that into perspective, RCID's annual budget was about $170M last year. Probably +90% of that is paid for by Disney through taxes that go beyond what they pay to Orange County. If RCID disappears, Disney no longer has to pay that ~$155M per year and gets to dump its infrastructure support costs into the county budget. The main benefit of Reedy Creek is not having to pay impact fees to the county, but that's negligible when you're not building a ton of houses or other new construction.
And if it were up to Disney, they'd probably be thrilled to ditch EPCOT Building Codes.
Now the Disney Springs parking garages? Those were absolutely a gift from Reedy Creek. But that touches on another issue, which is that they have assets - do those just get liquidated?
The whole thing is a colossally stupid idea both in practice and as what is supposed to be a punishment.