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On (need date), the Oregon Legislature passed a bill introduced by PBG that provides $150 million in State
bonds to be applied toward building a $336 million stadium in Portland. This bill ensures that state taxpayers
will not pay anything toward the cost of a new stadium. The $150 million in State bonds would come from
income taxes paid by MLB players and managers of an Oregon franchise as well as from visiting players’ incomes.
 The bill was passed on the contingency that appropriate private and local public participate toward funding
the remaining portion of the stadium costs. In addition, the bill will require no state or local dollars to be
spent until a relocating franchise makes a 30-year commitment to remain in Oregon. If the bond payments
aren't covered in full by the players' income taxes, the team's owner will cover the difference.
 Funding will not be diverted from crucial rural projects or any other state project. In fact, revenue generated
by an MLB team will contribute to the State's general fund and be available for education, social services and
other valuable programs. A 2001 study conducted by Game Plan LLC (Boston) estimated that Oregon would
generate nearly $580 million over a 30-year period from new income taxes (NOTE: This should be a link to
the Total New State IncomeTax Chart on existing site. Maybe open up in a separate window.) alone. A $150
million State bond issue will cost the state about $400 million over the bonds' 30-year period. That would
leave nearly $180 million in general fund revenues in that period. |
