Bill > SB0035

This bill amends Tennessee's consumer protection laws to prohibit the sale of "speculative tickets," which are defined as tickets that are not currently in the physical possession, ownership, or under contract to be transferred to a reseller at the time of sale. The legislation requires third-party ticket resellers and online platforms to refrain from selling or offering speculative tickets, with the division of consumer affairs in the attorney general's office tasked with enforcing this prohibition. If a violation is found, the division can assess a penalty of $5,000 per violation, with each instance of selling or offering a speculative ticket considered a separate violation. Additionally, the bill empowers individuals or entities who believe a reseller has violated the law to bring a cause of action in court, where successful plaintiffs can be awarded actual damages, attorney fees, and court costs. The new law will take effect on July 1, 2025, and will apply to ticket sales and offerings occurring on or after that date, ultimately aimed at protecting consumers from potentially fraudulent ticket resale practices.

Business and Industry

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0035&ga=114