Florida lawmakers are mulling plans to reverse a move that would strip Walt Disney Co. of its right to operate a private government around its famous theme-parks, the Financial Times reported on Friday, citing people briefed on the plan.

In April, lawmakers had given their final approval to a bill ending Walt Disney's designation as a self-governing entity, in an apparent response to its opposition to a state law limiting the teaching of LGBTQ issues in schools.

The new law would also mean that Disney would have to pay more taxes, state governor Ron DeSantis had said in April when he signed the bill.

The state lawmakers are working on a compromise that would allow Disney to keep the arrangement largely in place with a few modifications, the FT reported.

Meanwhile, the return of Bob Iger as CEO last week could help pave the way for a resolution on the law, the FT report said.

The bill signed in spring this year by governor Ron DeSantis eliminates special governing jurisdiction that allowed the company to operate Walt Disney World Resort as its own city.

Disney had condemned Florida's LGBTQ legislation dubbed as "don't say gay" bill by critics, which bans classroom instruction on sexual orientation or gender identity for children in kindergarten through third grade.

The bill to strip Disney of its self-governing authority was signed soon after and was seen as an attack on the company for its political stance.

Representatives for Disney and Florida governor Ron DeSantis did not immediately respond to a Reuters request for comment.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Dhanya Ann Thoppil)