SB 2456

B eginning July 1, 2027, this bill requires a live music support 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 occurring within this state. The live music support levied is due and payable monthly on the first day of each month, and, for the purpose of ascertain ing the amount payable under this bill, all third-party ticket resellers must, on or before the 20 th day of each month, transmit to the commissioner of revenue returns showing the gross sales arising from all sales subject to the live music support during t he preceding calendar month. The department of revenue must impose the live music support on the third-party ticket resellers and not impose the live music support directly on any individual user. Each third-party ticket reseller must register with the department for the collection and remittance of the live music support levied. "THIRD-PARTY TICKET RESELLER"" DEFINED As used in this bill, a ""third-party ticket reseller"" means an individual, firm, corporation, or other entity that meets any of the following criteria:  Engages in the business of reselling tickets to a place of entertainment.  Operates an internet website or other electronic service that provides a mechanism for two or more parties to participate in a resale transaction.  Facilitates resale transactions by means of an auction.  Maintains an office, branch of an office, bureau, agency, or other entity for purposes of engaging in the business of reselling tickets to a place of entertainment. DISTRIBUTION OF FUNDS This bill requires the funds generated from the levied live action support to be deposited into the live music and performance venue fund, less any costs for the administration and enforcement of the live music support, and to be used solely for the purp oses outlined in the Tennessee Film, Entertainment and Music Commission Act of 1987 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 to the department of revenue is subject to penalties and interest. RULES This bill authorizes the department of revenue to promulgate rules to effectuate this bill."