“To direct the Federal Trade Commission to conduct a study on certain concession pricing practices, and for other purposes.”
No CRS summary available for this bill.
This section states congressional findings that many sports venues receive public investments through grants, tax credits, incentives, and tax-exempt bonds; concession prices at major sporting events and concerts are unaffordable for average families (e.g., $16 average beer price at Madison Square Garden, third highest among NBA arenas; $10 at Highmark Stadium, double nearby bar prices); fans across professional sports leagues and concerts face high costs; street pricing (i.e., aligning venue prices with surrounding community prices) benefits businesses and consumers; and taxpayers deserve transparent, fair concession pricing at publicly supported venues.
This section directs the Federal Trade Commission (FTC) to conduct a study, not later than 90 days after the date of enactment, on concession pricing practices (i.e., prices, comparisons to surrounding communities, dynamic pricing, service fees, promotions, price disclosures, and consumer-friendly policies such as price caps) at a nationwide sample of covered venues. Covered venues are publicly subsidized stadiums or arenas used for professional sports exhibitions or games, music concerts, or comparable events at least five days per year that require ticketed entry and sell food and drink items. Not later than one year after enactment, the FTC must submit a report to Congress containing the study results and recommendations for legislative, regulatory, and industry actions to improve affordability and transparency of concession pricing.