Bill > SB0917

This bill amends Tennessee's consumer protection laws to prohibit the sale of "speculative tickets," which are defined as tickets that are not actually in the physical possession, ownership, or under contract to be transferred to a reseller at the time of sale. Specifically, the bill bars third-party ticket resellers from selling or offering speculative tickets, and also prevents online platforms that facilitate ticket resales from allowing such transactions. The division of consumer affairs within the attorney general's office will be responsible for enforcing this new regulation, with the power to assess a $5,000 penalty for each violation. Each instance of selling or offering a speculative ticket will be considered a separate violation. The law is set to take effect on July 1, 2025, and will apply to ticket sales and offerings occurring on or after that date. This legislation aims to protect consumers from purchasing tickets that the reseller may not actually be able to provide, thereby reducing the risk of fraud or unfulfilled ticket sales.

Business and Industry

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0917&ga=114