OR SB1501

Oregon Department of Administrative Services may negotiate agreements with public bodies or management entities to establish a joint authority to own and operate the Moda Center arena at 1 Center Court Street, Portland

Creates the Oregon Arena Fund in the State Treasury to pay for construction, renovation, capital improvements, arena operations, and debt service; agreements cannot pledge state taxing power, full faith and credit, or create unconstitutional debt

Dedicates income tax withholdings from Rose Quarter operating organizations, Moda Center construction workers, and performer income taxes to the fund, with transfers contingent on a men's professional basketball team signing a lease

Requires quarterly reporting to the legislative ways and means committee on renovation progress, expenditures, and revenues; reporting requirement expires January 2, 2032

Tax revenue dedication applies to tax years beginning on or after July 1, 2027; declared an emergency measure effective upon passage