71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 2998
A-Engrossed
House Bill 2941
Ordered by the House April 27
Including House Amendments dated April 27
Sponsored by Representatives WITT, WILLIAMS, HILL, Senator
DECKERT; Representatives BACKLUND, BARNHART, BROWN, CARLSON,
DEVLIN, DOYLE, GARDNER, GARRARD, HANSEN, HAYDEN, JOHNSON, KING,
KNOPP, KRUMMEL, LEE, LOWE, MARCH, MORRISETTE, PATRIDGE,
SHETTERLY, P SMITH, T SMITH, TOMEI, V WALKER, WESTLUND, WIRTH,
ZAUNER, Senators ATKINSON, L BEYER, BROWN, BURDICK, CARTER,
CASTILLO, CLARNO, CORCORAN, COURTNEY, DUNCAN, HARTUNG, METSGER,
MILLER, MINNIS, SHIELDS, STARR
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
Authorizes issuance of $150 million in lottery bonds to finance
construction of major league baseball stadium in city in Oregon
if major league franchise commits to locating in { - state and
if - } { + Oregon city with population of at least 500,000, + }
balance of cost of building stadium is secured within four
years { + and city requests in writing that bonds be issued + }.
{ + Provides that any sports facility owned by city with
population of at least 500,000 is exempt from taxation even if
leased to or operated by tax paying entity. + }
A BILL FOR AN ACT
Relating to lottery bonds for sports facilities; creating new
provisions; and amending ORS 286.585.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + (1) Pursuant to ORS 286.560 to 286.580 and
286.585, during the 2001-2003 and 2003-2005 biennia, lottery
bonds may be issued to make a grant to an Oregon city to fund the
construction of a stadium suitable for use by a major league
baseball team if within four years of the effective date of this
2001 Act the Director of the Economic and Community Development
Department has determined that:
(a) A major league baseball franchise has committed to locating
in an Oregon city with a population of at least 500,000;
(b) The balance of the funding to build the stadium is secured;
and
(c) The city in which the stadium will be located has requested
in writing that the bonds authorized by ORS 286.585 be issued.
(2) The use of lottery bond proceeds is authorized on the basis
of the findings in ORS 286.585.
(3) The aggregate principal amount of lottery bonds issued
pursuant to this section during the 2001-2003 and 2003-2005
biennia may not exceed the sum of $150 million and an additional
amount estimated by the State Treasurer to be necessary to pay
bond-related costs. Lottery bonds issued pursuant to this section
may be issued only at the request of the Director of the Economic
and Community Development Department.
(4) The net proceeds of lottery bonds issued pursuant to this
section shall be deposited in the Economic Infrastructure Project
Fund established by ORS 285B.551. The Director of the Economic
and Community Development Department shall allocate the moneys
deposited in the Economic Infrastructure Project Fund for the
purpose described in this section pursuant to policies developed
by the Oregon Economic and Community Development Commission under
ORS 285A.045.
(5) The proceeds of lottery bonds issued pursuant to this
section shall be used only for the purposes set forth in this
section and for bond-related costs. + }
SECTION 2. ORS 286.585 is amended to read:
286.585. (1) Pursuant to ORS 286.560 to 286.580 and 348.716 and
subject to future legislative approval, lottery bonds may be
issued to make grants or loans to Oregon cities to fund projects
for the reconstruction, renovation { - or - } { + , + }
development { + or construction + } of community sports
facilities in order to make the facilities suitable for use by a
major league baseball team if a city is selected as an expansion
site by major league baseball or if a major league baseball team
agrees to relocate to a city.
(2) The use of lottery bond proceeds is authorized based on the
following findings:
(a) The financial assistance to cities will assist in the
construction, improvement and expansion of infrastructure and
community facilities that comprise the physical foundation for
commercial activity and provide the basic framework for continued
and expanded economic opportunities and quality communities
throughout Oregon.
(b) Such financial assistance to cities will therefore promote
economic development within this state, and thus the use of net
proceeds derived from the operation of the Oregon State Lottery
to pay debt service on lottery bonds issued under this section to
provide such financial assistance to cities is an appropriate use
of state lottery funds under section 4, Article XV of the Oregon
Constitution, and ORS 461.510.
(3) Lottery bonds issued pursuant to this section shall be
issued only at the request of the Director of the Economic and
Community Development Department.
(4) The net proceeds of lottery bonds issued pursuant to this
section shall be deposited in the Economic Infrastructure Project
Fund established by ORS 285B.551. The Director of the Economic
and Community Development Department shall allocate the moneys
deposited in the Economic Infrastructure Project Fund for the
purpose described in this section in accordance with the policies
developed by the Oregon Economic and Community Development
Commission in accordance with ORS 285A.045.
(5) The proceeds of lottery bonds issued pursuant to this
section shall be used only for the purposes set forth in this
section and for bond-related costs.
SECTION 3. { + Section 4 of this 2001 Act is added to and made
a part of ORS chapter 307. + }
SECTION 4. { + Any sports facility owned by a city with a
population of at least 500,000 is exempt from taxation even if
leased to or operated by a taxpaying entity. + }
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