ALBANY - A revised bill legalizing limited ticket scalping for venues with 6,000 seats or more will be signed into law by Gov. George Pataki, the governor's office said yesterday.

An earlier version of the bill passed by the State Legislature this month would have allowed scalpers to sell tickets without price restrictions. Supporters said that would lead to lower prices as sellers competed for business and more tickets became available.

That provision was changed after Pataki said he would sign the bill only if a 45-percent cap was put on the resale price.

Under law, ticket buyers can resell their tickets for $5 above the face value or 20 percent more than what they paid, whichever is greater.

The new bill also closes a loophole in the law that allows ticket sellers to skirt the cap through service charges and delivery fees.

"The governor had some concerns with the original legislation and wanted to put in place additional safeguards that will help protect New Yorkers from exorbitant ticket prices and bogus fees," Pataki spokesman Kevin Quinn wrote in a statement.

The law will remain in effect for venues with fewer than 6,000 seats, a provision meant to protect Broadway theaters from scalpers.

To be able to resell tickets, a person or business will have to pay a $5,000 licensing fee. The bill would also allow the resale of tickets on the Internet through sites such as eBay or StubHub.com.
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posted by ADMIN @ Monday, July 18, 2005