summary
Introduced
01/28/2025
01/28/2025
In Committee
03/04/2025
03/04/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act says the state may issue lottery bonds to help pay for a public market in Portland. (Flesch Readability Score: 75.7). Authorizes lottery bonds for construction of the James Beard Public Market in Portland. Declares an emergency, effective July 1, 2025.
AI Summary
This bill authorizes the State Treasurer to issue lottery bonds for the James Beard Public Market in Portland, specifically requesting $10 million in net proceeds for the project. The bonds will be issued at the request of the Oregon Department of Administrative Services (ODAS) after consulting with the Historic Portland Public Market Foundation. The proceeds will be deposited in the ODAS Economic Development Distributions Fund and then transferred to the foundation to support the construction of the public market. The Legislative Assembly justifies the use of lottery bond proceeds by highlighting the project's potential economic benefits, including job creation, economic development, support for local farming and food industries, and revitalization of downtown Portland. The bill includes an emergency clause, which means the legislation will take effect on July 1, 2025, and is considered immediately necessary for public peace, health, and safety. This funding mechanism will help establish a centralized market location for local vendors in Portland.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (8)
Shannon Isadore (D)*,
Zach Hudson (D),
Lesly Muñoz (D),
Travis Nelson (D),
Daniel Nguyen (D),
Rob Nosse (D),
Hai Pham (D),
Ricki Ruiz (D),
Last Action
Referred to Ways and Means by prior reference. (on 03/04/2025)
Official Document
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bill summary
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bill summary
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