Senate committee adopts amendments and forwards Moda Center financing bill to Ways and Means

A Senate committee on Thursday adopted amendments to Senate Bill 1501 and agreed to send the measure to the Joint Committee on Ways and Means with a do-pass recommendation.

Leslie, committee staff, told the committee the bill would authorize the Oregon Department of Administrative Services to enter into agreements to own and operate the Moda Center in Portland, create a state treasury fund dedicated to certain tax revenues related to the Moda Center, and declares an emergency on passage. Leslie said the bill specifies that agreements may not obligate state monies beyond the Oregon arena fund or pledge the taxing power or full faith and credit of the state, and that the legislative assembly is not obligated to appropriate monies to the fund. The bill text states an intent to issue debt instruments sufficient to yield $350,000,000 in net proceeds to support construction and renovation of the Moda Center.

Vice Chair Star moved adoption of the dash-3 amendment and said many of her prior concerns had been addressed: "To a large extent, the issues that I raised in that first hearing have been addressed in the amendment," she said, adding the matter remains "delicate" and may be controversial.

After the dash-3 amendment was adopted by roll call, Vice Chair Star moved that the bill as amended be sent to the floor with a do-pass recommendation and referred to the Joint Committee on Ways and Means. Senator Teicher said he had voted for the amendment and thought it improved the bill but would not support sending the measure forward at this time. Other members urged further conversations in Ways and Means; the chair announced the motion passes.

Next steps: the committee forwarded the amended bill to the Joint Committee on Ways and Means for further fiscal and policy consideration.