Florida's newly appointed attorney general has filed a lawsuit against Target, saying the company misled investors, and Gov. Ron DeSantis signals approval for a plan to do away with property taxes in the Sunshine State.

Florida files suit against Target, claiming DEI initiatives ‘misled investors’

Florida’s new attorney general filed a federal court lawsuit against Target on Thursday, claiming the discount store chain “misled investors” by promoting diversity, equity and inclusion initiatives that prompted a backlash and hurt sales, ultimately costing shareholders.

Before it scaled back its DEI efforts last month, Target was long considered a corporate advocate for the rights of Black and LGBTQ+ people. The retailer’s decision in 2023 to roll out LGBTQ+ merchandise in honor of Pride month outraged some shoppers and sparked confrontations in some stores.

In the lawsuit filed in Fort Myers, Florida, Attorney General James Uthmeier argued that Target violated the Securities Exchange Act by failing to disclose “the known risks” of its DEI and Pride month initiatives.

“Corporations that push radical leftist ideology at the expense of financial returns jeopardize the retirement security of Florida’s first responders and teachers,” Uthmeier said in a statement. “My office will stridently pursue corporate reform so that companies get back to the business of doing business — not offensive political theatre.”

Uthmeier, who was appointed as attorney general by Republican Gov. Ron DeSantis this week, has pledged to use the state’s legal muster to “champion an America-first agenda” and challenge what he called “the left.”

Target did not respond to a request for comments.

Gov. Ron DeSantis supports idea of eliminating property taxes in Florida

Florida Gov. Ron DeSantis has signaled that he is open to the idea of eliminating property taxes in Florida — and a Senate bill has been filed that would order a study to see if it's feasible.

State Sen. Jonathan Martin — a Republican from Fort Myers — introduced Senate Bill 852, which calls for a legislative study on how Florida could get rid of property taxes, and would explore alternatives like a sales-based consumption tax.

DeSantis recently posted on X that he is open to the idea of eliminating, reforming, or lowering property taxes. He said in part: “I agree that taxing land/property is the more oppressive and ineffective form of taxation."

While it remains in the early stages, some like Dr. Michael Snipes — a professor of economics at the University of South Florida — say doing away with property taxes in Florida could have a negative impact.

“I mean that’s possible, that’s feasible, but that’s something that’s going to affect everybody," Snipes said. "With something like a consumption tax — that disproportionately affects lower-income individuals than higher-income individuals,."

He also said that property taxes are vital for funding things like education and public services.

“It sounds really good on paper, but I would really be careful about — just as a individual, individual homeowner, or even if you are renting — I would be very careful about this," Snipes said.

SB 852 has been filed and the findings are set to be submitted to the Florida Senate and House of Representatives by Oct. 1.

It is very early in the process, but eliminating property taxes in Florida would require putting a constitutional amendment on the ballot — which would need at least 60% voter approval.