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Law expires allowing unlimited markup for ticket scalpers

Law expires allowing unlimited markup for ticket scalpers

Times just got far tougher for ticket scalpers in New York.

Times just got far tougher for ticket scalpers in New York.

Reselling tickets to concerts, sports events and other attractions at large markups is now illegal because state lawmakers haven’t agreed to extend a ticket resale law that expired Monday.

The law had allowed unlimited markups on tickets since 2007. Proposed by former Gov. Eliot Spitzer, the aim was to let the free market rule. But some distributors have charged dramatically more than the original price for the hottest tickets.

For now, the old law rules. Among its stricter provisions: markups are capped at $2 over the face value of a ticket.

Lawmakers and Gov. David Paterson are negotiating now.

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