The Ticket Fairness and Transparency Act is designed to improve consumer protections and transparency in New Jersey's ticket resale market. The bill mandates that ticket brokers maintain detailed records of ticket inventory, pricing, and ownership verification for at least five years. It requires ticket sellers to disclose all fees associated with ticket purchases, capping them at 10% of the ticket's face value, and prohibits reselling tickets at a premium exceeding 20% of the original price. The legislation also establishes a Ticket Consumer Protection Fund to support consumer education and restitution, while imposing significant penalties for violations, including fines of up to $1,000 for individuals and $25,000 for businesses for first offenses.

Key provisions include the requirement for ticket issuers to disclose the number of tickets available for sale and any changes to that number, as well as a ban on dynamic pricing by publicly funded venues. The bill addresses the use of automated ticket-buying software, imposing strict penalties for their use, and ensures consumers are entitled to full refunds in case of cancellations. Additionally, it prohibits retaliatory actions against employees who report violations and voids any contractual provisions that limit consumer rights under this act. The act is set to take effect 180 days after enactment, applying to ticket sales and resales occurring thereafter.

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