184.408: ����� (a) �Incremental baseball tax revenues� means: ����� (A) The Oregon personal income tax revenues that are generated from the Oregon personal income tax liabilities shown on the income

184.408:

����� (a) �Incremental baseball tax revenues� means:

����� (A) The Oregon personal income tax revenues that are generated from the Oregon personal income tax liabilities shown on the income tax returns filed by the members of a professional athletic team engaged in Major League Baseball, including revenues that are generated from the tax liabilities of spouses of members of a professional athletic team engaged in Major League Baseball if the tax liabilities are reported on a joint return; or

����� (B) If Oregon personal income tax rates are reduced after the dates of the grant agreements described in ORS 184.404 and the grant agreements provide that payments will be based on rates in effect when the grant agreements are executed, the Oregon personal income tax liabilities, as described in subparagraph (A) of this paragraph, that would have been due if the liabilities were calculated using personal income tax rates in effect on the date of execution of the grant agreements.

����� (b) �Major league stadium� means a baseball stadium located in the City of Portland that is designed for use by a Major League Baseball team and that has an estimated cost of $2 billion or more.

����� (c) �Member of a professional athletic team� means an athlete or other individual rendering service to a professional athletic team if the compensation of the athlete or other individual exceeds $100,000 in a tax year.

����� (d) �Tax liabilities� means the tax determined under ORS chapter 316 for the tax year less the credits allowed for purposes of ORS chapter 316 for the tax year.

����� (2) The Department of Revenue may adopt administrative rules that the department determines are necessary to:

����� (a) Further define the terms defined in this section in a manner consistent with this section;

����� (b) Implement the duties of the department under ORS 184.400 to 184.408; and

����� (c) Carry out the purposes of ORS 184.400 to 184.408. [2003 c.808 �1; 2025 c.461 �1]

����� 184.402 Findings. The Legislative Assembly finds and declares that the construction of a major league stadium and the location of a Major League Baseball franchise in Portland will bring jobs and economic development to Oregon and will benefit Oregon workers and businesses. [2003 c.808 �1a]

����� 184.404 Grant agreements; obligations of state. (1) The Director of the Oregon Department of Administrative Services, with the approval of the State Treasurer, may enter into one or more agreements on behalf of the State of Oregon to grant the incremental baseball tax revenues for a period of not more than 30 years. The grant agreements must:

����� (a) Provide that the granted amounts may be used only to pay for the costs of financing, developing, constructing and furnishing a major league stadium;

����� (b) Provide that:

����� (A) The total payments to the grantees are limited so that the grantees do not receive, in the aggregate, more than $800 million for costs of developing, constructing and furnishing a major league stadium, plus the actual, reasonable financing costs incurred by the grantees for that amount; and

����� (B) If the incremental baseball tax revenues in a year substantially exceed the amount reasonably required to amortize a loan of $800 million over a period of 30 years with interest, the excess may be retained by the state;

����� (c) Terminate when:

����� (A) The State of Oregon has made all payments assigned to the state in the grant agreements for the costs allowed under this subsection; and

����� (B) The grantees have returned any amounts required to be returned under paragraph (i) of this subsection;

����� (d) Require the Director of the Department of Revenue to estimate incremental baseball tax revenues, specify the methodology for estimating incremental baseball tax revenues and notify the Director of the Oregon Department of Administrative Services of the estimated incremental baseball tax revenues;

����� (e) Specify the methodology for determining actual incremental baseball tax revenues;

����� (f) Require the Director of the Oregon Department of Administrative Services to request that the Legislative Assembly appropriate an amount equal to the estimated incremental baseball tax revenues from the General Fund to the Major League Stadium Grant Fund established in ORS 184.408 so that those moneys may be disbursed under the grant agreements authorized by this section;

����� (g) Require the Director of the Department of Revenue to determine the actual incremental baseball tax revenues and, if the actual incremental baseball tax revenues exceed the estimated incremental baseball tax revenues, notify the Director of the Oregon Department of Administrative Services of the excess;

����� (h) Require the Director of the Oregon Department of Administrative Services, if notified of an excess under paragraph (g) of this subsection, to request that the Legislative Assembly appropriate an amount equal to the excess, adjusted for the limits and retentions described in paragraph (b) of this subsection, from the General Fund to the Major League Stadium Grant Fund so that those moneys may be disbursed under the grant agreements authorized by this section;

����� (i) Require the grantees to return to the Director of the Oregon Department of Administrative Services for deposit in the General Fund amounts transferred to the grantees from the Major League Stadium Grant Fund that exceed the actual incremental baseball tax revenues;

����� (j) Provide that the amounts requested for appropriations may not be reduced because of any reduction that may be enacted in Oregon personal income tax rates;

����� (k) Require the Director of the Oregon Department of Administrative Services to disburse amounts in the Major League Stadium Grant Fund to the grantees on particular dates;

����� (L) Provide assurances of full and fair participation in the construction, furnishing and operation of the major league stadium by minority-owned businesses, woman-owned businesses, veteran-owned businesses and emerging small businesses;

����� (m) Provide for the maximization of economic benefits for Oregon workers in the construction, furnishing and operation of the major league stadium to the greatest extent permitted by law; and

����� (n) Require the State of Oregon and the grantees to take any other action that the State Treasurer, the Director of the Oregon Department of Administrative Services or the Director of the Department of Revenue determines is desirable to ensure that:

����� (A) The granted funds are used for the purposes described in ORS 184.400 to 184.408;

����� (B) The grant agreements are administered efficiently and the interests of the State of Oregon are protected; and

����� (C) The requests for appropriation of amounts equal to the incremental baseball tax revenues are made as described in ORS 184.400 to 184.408.

����� (2) The obligation of the State of Oregon, under ORS 184.400 to 184.408 and the grant agreements authorized by this section, to transfer estimated or actual incremental baseball tax revenues to the Major League Stadium Grant Fund is subject to an appropriation being made for that purpose by the Legislative Assembly. The State of Oregon is not liable to any party for any reason if the Legislative Assembly fails to appropriate all or a portion of the amounts requested under subsection (1)(f) and (h) of this section to the Major League Stadium Grant Fund. However, if the Legislative Assembly does appropriate amounts for deposit in the Major League Stadium Grant Fund and those amounts are deposited in the Major League Stadium Grant Fund pursuant to the grant agreements authorized by this section, the obligation of the State of Oregon to disburse the amounts in the Major League Stadium Grant Fund is unconditional. The grant agreements authorized by this section are not a pledge of the full faith and credit or the taxing power of the State of Oregon, and the State of Oregon does not pledge its full faith and credit or taxing power. The grant agreements do not create an indebtedness of the State of Oregon in violation of Article XI, section 7, of the Oregon Constitution. If a provision of a grant agreement is construed to have the effect of creating a debt in violation of Article XI, section 7, of the Oregon Constitution, the provision is void.

����� (3) The Legislative Assembly does not have a legal obligation to appropriate any amounts for disbursement under the grant agreements authorized by this section. However, the Legislative Assembly declares its current intention to appropriate amounts equal to the estimated incremental baseball tax revenues and amounts equal to the amount by which the actual incremental baseball tax revenues exceed the estimated incremental baseball tax revenues from the General Fund to the Major League Stadium Grant Fund, as provided in ORS 184.400 to 184.408, so that the amounts may be disbursed pursuant to the grant agreements authorized by this section.

����� (4) Before commencing negotiations on a grant agreement authorized by this section, the Oregon Department of Administrative Services shall obtain one or more agreements from benefited parties to pay the state�s costs associated with negotiating and executing the grant agreement. [2003 c.808 �2; 2015 c.565 �11; 2023 c.497 �1; 2025 c.461 �2]

����� 184.405 [1989 c.1067 �1; 1993 c.319 �8; renumbered 181.750 in 1993]

����� 184.406 Prerequisites of grant agreement. The Director of the Oregon Department of Administrative Services may not execute a grant agreement authorized by ORS 184.404 until the director has determined that:

����� (1) The City of Portland has made a written request to the director to execute and deliver the grant agreement;

����� (2) A Major League Baseball franchise has agreed to locate and be based in Portland and has entered into a legally binding commitment to remain in Portland for at least the term of the grant agreement;

����� (3) All funding to build the major league stadium that is not based on the grant agreement has been committed;

����� (4) No grantee is both a public body and a guarantor for the repayment of bonds or other indebtedness that is to be repaid through use of grant moneys; and

����� (5) The Oregon Department of Administrative Services has prepared and submitted to the Legislative Assembly a written report regarding the estimated and actual incremental baseball tax revenues relating to the following provisions of the proposed grant agreement:

����� (a) The methodology for estimating the incremental baseball tax revenues;

����� (b) The methodology for determining the actual incremental baseball tax revenues; and

����� (c) The requirement that estimated and actual incremental baseball tax revenues be based on the Oregon personal income tax rates in effect when the grant agreement is executed or for the period for which the taxes are collected, whichever is greater, even if those rates are subsequently reduced. [2003 c.808 �3; 2017 c.532 �2]

����� 184.407 [1989 c.1067 �2; 1993 c.319 �9; renumbered 181.755 in 1993]

����� 184.408 Major League Stadium Grant Fund. The Major League Stadium Grant Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of making the grants required by the grant agreements entered into under ORS 184.404 and paying the costs and expenses of the State Treasurer, the Oregon Department of Administrative Services and the Department of Revenue in connection with the implementation and administration of ORS