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With Blazers' Future at Stake, Oregon Lawmakers Consider Moda Center Overhaul Bill

Senate Bill 1501 proposes creating the Oregon Arena Fund to finance a $600 million renovation, supporting economic growth and securing the Trail Blazers’ long-term lease.

  • Senate President Rob Wagner introduced SB 1501 on Feb. 9, 2026, to help fund and manage a Moda Center renovation to keep the Portland Trail Blazers in Oregon.
  • Moda Center opened in 1995 and is one of the NBA's oldest venues without major renovation; lawmakers say a roughly $600 million overhaul is needed as Tom Dundon, incoming owner, takes control next month.
  • The measure would tap payroll and performer taxes to establish an Oregon Arena Fund, with $360 million in payroll taxes and contributions from Portland and the county, supporting renovations.
  • After its first reading, SB 1501 sits in the Senate Committee on Rules with a hearing Wednesday, supported by Gov. Tina Kotek and Wagner, yet it does not allocate funds now.
  • Budget writers caution that funding questions for the Moda Center renovation, supporting 1.6 million visitors and a $670 million impact, could divert from the state of Oregon budget's roughly $650 million hole.
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Axios broke the news in Washington, United States on Monday, February 9, 2026.
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