| 7 | 7 | | |
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| 8 | 8 | | |
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| 9 | 9 | | HB1374 |
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| 10 | 10 | | 002791 |
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| 11 | 11 | | - 1 - |
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| 12 | 12 | | |
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| 13 | 13 | | AN ACT to amend Tennessee Code Annotated, Title 47, |
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| 14 | 14 | | relative to speculative tickets. |
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| 15 | 15 | | |
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| 16 | 16 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 17 | 17 | | SECTION 1. Tennessee Code Annotated, Section 47-50-119, is amended by deleting |
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| 18 | 18 | | the section. |
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| 19 | 19 | | SECTION 2. Tennessee Code Annotated, Section 47-50-121(a), is amended by adding |
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| 20 | 20 | | the following as a new subdivision: |
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| 21 | 21 | | ( ) "Speculative ticket": |
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| 22 | 22 | | (A) Means a ticket that is not in the actual or constructive possession of a |
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| 23 | 23 | | reseller at the time of sale, advertisement, or listing; and |
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| 24 | 24 | | (B) Includes a ticket sold by a reseller that, at the time of resale, is not: |
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| 25 | 25 | | (i) In the physical possession of the reseller; |
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| 26 | 26 | | (ii) Owned by the reseller; or |
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| 27 | 27 | | (iii) Under contract to be transferred to the reseller; |
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| 28 | 28 | | SECTION 3. Tennessee Code Annotated, Section 47-50-121, is amended by adding |
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| 29 | 29 | | the following as a new subsection: |
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| 30 | 30 | | (e) |
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| 31 | 31 | | (1) |
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| 32 | 32 | | (A) A third-party ticket reseller shall not sell or offer to sell a |
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| 33 | 33 | | speculative ticket. |
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| 34 | 34 | | (B) A third-party ticket reseller that operates an internet website |
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| 35 | 35 | | or other electronic service that provides a mechanism for two (2) or more |
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| 36 | 36 | | |
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| 37 | 37 | | |
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| 38 | 38 | | - 2 - 002791 |
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| 39 | 39 | | |
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| 40 | 40 | | parties to participate in a resale transaction shall not allow the sale or |
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| 41 | 41 | | offering for sale of a speculative ticket. |
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| 42 | 42 | | (2) |
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| 43 | 43 | | (A) The division of consumer affairs in the office of the attorney |
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| 44 | 44 | | general and reporter shall enforce this subsection (e). The division shall |
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| 45 | 45 | | establish a means by which a consumer may submit a complaint for a |
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| 46 | 46 | | violation of this subsection. |
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| 47 | 47 | | (B) If the division of consumer affairs finds that a third-party ticket |
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| 48 | 48 | | reseller violated subdivision (e)(1)(A) or (e)(1)(B), then the division must |
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| 49 | 49 | | assess a penalty of five thousand dollars ($5,000) per violation. Each |
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| 50 | 50 | | instance of selling, offering for sale, or allowing the sale or offering for |
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| 51 | 51 | | sale of a speculative ticket is a separate violation. |
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| 52 | 52 | | SECTION 4. This act takes effect July 1, 2025, the public welfare requiring it, and |
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| 53 | 53 | | applies to conduct occurring on or after that date. |
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