SB 2125

Beginning July 1, 2027, this bill requires a live music support assessment of 5% to be assessed on the sales price of all tickets sold at retail through the secondary ticketing market for any live music and performance event , which does not include a sports-related event, occurring within this state. Such assessments are due and payable monthly on the first day of each month, and for the purpose of ascertaining the amount of assessments payable under this bill, all third-party ticket resellers, on or before the 20 th day of each month, must transmit to the commissioner of revenue returns showing the gross sales arising from all sales subject to the assessment during the preceding calendar month. The department of revenue must impose the assessment on the third-party ticket resellers and must not impose the assessment directly on any individual user. Each third-party ticket reseller must register with the department for the collection and remittance of the assessment. ADMINISTRATION — DISTRIBUTION OF FUNDS This bill requires the department of revenue to collect and administer the assessment established under this bill. The funds must be deposited into the live music and performance venue fund, less any costs for the administration and enforcement of this assessment, and must be used solely for the purposes outlined in present law for that fund, including economic development support grants for live music and performance venues, promoters, and performers. PENALTIES FOR NONCOMPLIANCE This bill provides that a third-party ticket reseller that fails to collect and remit the live music support assessment to the department of revenue is subject to penalties and interest as provided in present law. RULEMAKING This bill authorizes the department of revenue to promulgate rules to effectuate this bill. APPLICABILITY Other than promulgating rules and forms, this bill takes effect April 1, 2027 , and applies only to assessment collection periods beginning on or after July 1, 2027.