The state Senate passed the bill Thursday and Spitzer was expected to sign it Friday in New York City, the New York Post reported.
"He's been very clear about how you shouldn't regulate the secondary market when the primary market isn't regulated," said Spitzer spokeswoman Christine Anderson.
The New York Daily News reported the bill would remove a ban on selling tickets for more than 45 percent above face value. However, it would also require scalpers to sell their tickets at least 1,500 feet away from large venues and at least 500 feet away from smaller venues. Internet sales, however, would be completely unregulated.
The ruling was welcomed by theaters and online ticket brokers.
"Ticket owners want the same freedoms in selling their tickets as they have in selling their homes or their cars," said Sean Pate, a spokesman for online ticket broker StubHub Inc. "That includes getting a good price for them."
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