The Ticket Fairness and Transparency Act is designed to improve consumer protections and transparency in New Jersey's ticket resale market. The bill introduces new requirements for ticket brokers, such as maintaining detailed records of ticket inventory, pricing, and ownership verification for at least five years. It mandates that all fees associated with ticket purchases cannot exceed 10% of the ticket's face value and prohibits reselling tickets at a markup greater than 20% of the original price. Additionally, the legislation establishes penalties for violations, particularly targeting the use of automated ticket-buying software, known as ticket bots, to bypass these regulations.

Furthermore, the bill requires ticket issuers to disclose the number of tickets available for sale and any changes to that number, while also ensuring full refunds are processed within 30 days for canceled events. It prohibits deceptive advertising practices and ensures that no ticket can be sold for the same seat to multiple purchasers. The act also creates a Ticket Consumer Protection Fund to support consumer education and restitution, mandates annual reporting on enforcement actions, and establishes an online portal for transparency in ticket broker registrations. Notably, the bill eliminates the use of tentative order policies by ticket brokers and includes a severability clause to uphold the validity of remaining provisions if any part is deemed invalid.

Statutes affected:
Introduced: 56:8-27, 56:8-33, 56:8-34