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Committee advances bill to fund live‑music venues via secondary ticket assessment, bans speculative ticketing
Summary
The subcommittee moved House Bill 2135, as amended, to full finance; the bill would create a dedicated revenue stream for live‑music venue grants by capturing a small portion of secondary‑market ticket resale and would prohibit speculative ticketing practices.
House Bill 2135, carried by Chairman Terry, would establish a dedicated revenue source for the Live Music and Performance Venue Fund by capturing a portion of secondary‑market ticket resales and by banning speculative (pre‑possession) ticket sales on the secondary market. The sponsor said the approach mirrors existing industry assessments used to support hospitals, nursing homes and ambulance services and is intended to keep money in Tennessee to support small, independent venues that nurture emerging artists.
Chairman Terry said the amendment adds a prohibition on “speculative ticketing,” a secondary-market practice the bill’s sponsors say artificially inflates prices. He described a 5% assessment on secondary resales as an example: on a $300 resale the assessment would be $15 and, the sponsor said, studies indicate that eliminating speculative practices on the secondary market can lower resale prices by 10%–30%, offsetting the assessment for many events.
Leader Cochran and other members asked procedural and implementation questions, including at what point the fee would be assessed and whether the assessment would be added to the advertised price or taken from the seller’s proceeds. Sponsors clarified the assessment would be taken from the resale proceeds rather than added as a tax on top of the buyer’s price. After discussion, the committee voted to move HB2135, as amended, to full finance on a recorded tally of 9‑yes, 3‑no.
