New York Assembly Bill A02595 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 2595 2023-2024 Regular Sessions  IN ASSEMBLY January 26, 2023 ___________ Introduced by M. of A. PAULIN -- read once and referred to the Committee on Tourism, Parks, Arts and Sports Development AN ACT to amend the arts and cultural affairs law, in relation to requiring ticket distributors to refund the purchase price of tickets within forty-five days after a cancelled or rescheduled event The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 23.08 of the arts and cultural 2 affairs law, as added by chapter 517 of the laws of 1988, is amended to 3 read as follows: 4 1. Any ticket distributor who offers or sells to the public in or from 5 the state of New York, advance tickets of admission to events to be held 6 in places of entertainment, or who contracts for the sale of such 7 advance tickets of admission, and accepts in advance partial or full 8 payment of the purchase price therefor, shall, no later than the next 9 business day after receipt thereof, deposit all such advance payments in 10 an escrow account in a bank, trust company, savings bank, or state or 11 federal savings and loan association, located in this state. A separate 12 escrow account shall be established for each place of entertainment. 13 Monies deposited in escrow shall be released upon performance of each 14 event for which such monies have been deposited to the extent that such 15 monies represent payment for advance tickets sold for the performed 16 event. The person who offers or sells advance tickets shall not be 17 required to keep in separate depository accounts the funds of the sepa- 18 rate ticket purchasers from whom payments have been received, provided 19 his books of account shall clearly show the number of tickets sold at 20 each price for each theatrical production, concert or sporting event for 21 which a separate escrow account has been established, and the total 22 amount of advance ticket revenues. Each advance ticket purchaser shall, 23 until the performance of the event for which the advance ticket has been 24 purchased, retain a property interest in that portion of the deposit EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05260-01-3 
 A. 2595 2 1 which equals the amount he has paid for such advance ticket, and shall 2 be entitled to a refund for such amount if the performance of the event 3 for which such ticket has been purchased in advance has been cancelled 4 or rescheduled, except as provided for by subdivision three of this 5 section. Upon the rescheduling or cancellation of a performance, or a 6 request for a refund by a ticket purchaser, the ticket distributor shall 7 refund the full purchase price of a ticket to each ticket purchaser 8 requesting a refund within forty-five days after the originally sched- 9 uled date of the performance or the event. 10 § 2. This act shall take effect immediately.