UPDATED with statement from StubHub: The New York State Legislature today passed legislation and adopted consumer disclosures in the ticket resale market that requires ticket broker sites to, among other things, disclose all fees and surcharges prior to accepting payment.

The legislation was hailed today by the Broadway League, the national trade association for the Broadway industry.

“A lack of oversight has led to a confusing and opaque ticket buying environment where, in many instances, consumers are not aware that they are doing business with a third-party reseller or that the reseller is listing tickets on speculation and they have not yet been made available for sale by the artist or venue,” Broadway League President Charlotte St. Martin said in a statement. “As a long-term champion of consumer protection and theatre accessibility, the League has been a vocal supporter of reform in this area.”

The legislation also requires that broker sites divulge when tickets are being sold on speculation and provide a refund if tickets are not delivered in a timely manner. It also expressly proscribes unauthorized resellers from implying an official relationship to an event or production by prohibiting the use of intentionally misleading web URLs.

Leading ticket reselling service StubHub issued a statement to Deadline after the measure passed. “As a fan first business, StubHub has always advocated for pro-consumer legislation that supports a competitive, transparent, and safe ticket market for fans,” Manager of Government Affairs Laura Dooley Sr. said. “We are proud to have worked closely with the New York Legislature on a legislative package that extends this important statute for another three years and takes comprehensive steps to protect New York fans and ensure they benefit from having choice in a free and open ticket market.”

According to the League, the law is the result of nearly two years of active legislative inquiry and deliberation, during which League members participated in round-table discussions on enhancing the current law, participated in dozens of meetings with state legislators to advocate for transparency in the resale market and submitted several filings recommending language to help improve the current legislation.

Said the League: “Despite vehement opposition from the broker industry, today’s legislation marks a significant victory for ticket buyers and helps ensure that the public has access to valuable information upon which to make informed purchases, while maintaining the ability to convey tickets should they no longer be able to attend the show or event.”

The League specifically expressed gratitude for the new legislation to Gov. Andrew Cuomo, state Sen. Terrence Murphy and Assemblyman Daniel O’Donnell.