Digest: The Act would set up a grant program for organizers of festivals and other public events at Tom McCall Waterfront Park in Portland. The Act would fund a study of options for the operation and maintenance of the park that will improve the livability and economy in the city and the state. The Act would require a report of the study to be turned in next year. (Flesch Readability Score: 60.4). [Digest: The Act would require a study of economic development in this state with a report to be turned in next year. (Flesch Readability Score: 64.6).] [Requires the Oregon Business Development Department to study economic development in Oregon. Directs the department to submit a report of the study to the interim committees of the Legislative Assembly related to economic development no later than September 15, 2026.] [Sunsets on January 2, 2027.] Appropriates moneys to establish a revolving grant program for organizers of festivals and other public events at Tom McCall Waterfront Park in Portland. Funds a collaborative study by the Institute of Portland Metropolitan Studies at Portland State University of options for the long-term, cost-effective operation and maintenance of Tom McCall Waterfront Park that will improve Portland's and Oregon's livability and economy. Requires the institute to submit a report to, among others, the interim committees of the Legislative Assembly related to economic development. Takes effect on the 91st day following adjournment sine die.