Tickets to concerts and sporting events could not be resold at more than 10% above face value under a proposed bill to tackle ticket touting.
Sinn Féin's Enterprise spokesman Maurice Quinlivan, who proposed the bill, told the Oireachtas Business Committee that he welcomed moves by singer Ed Sheeran to tackle touting by introducing ID to gain entry to the shows.
However, he said further action is needed to address the issue.
"Even the measures introduced by Ed Sheeran and his promoters, comes with some drawbacks.
"Due to the requirements of names being placed on these tickets, and ID being required to confirm this, people who received tickets as a present had trouble getting into his concerts," he said.
Mr Quinlivan's bill proposes fines of up to €5,000 for those caught trying to sell tickets at more than 10% above face value.
It is the second bill to try and tackle ticket touting to come before the Houses of the Oireachtas.
Fine Gael's Noel Rock and Fianna Fáil's Stephen Donnelly co-signed a bill to ban the resale of tickets for above face value, with the exception of tickets auctioned for charity.
Mr Rock said there is clearly cross-party consensus on the need to address the issue of ticket touting, saying that it was costing "real families real money".
"People are cornering this market through bots and other means and are profiteering quite greatly," he said.
Officials from the Department of Enterprise told committee members that the established secondary ticket marketplaces offer buyers a guarantee that they will be refunded the price of tickets which are not delivered or prove to be fake.
"Other than for certain trusted resellers, those re-selling tickets on these marketplaces do not receive payment until after the buyer has gained access to the event," Assistant Principal Kieran Grace told the committee.
However, Mr Rock said he has received complaints from constituents who paid multiple times face value for secondary markets for premium tickets, but ended up with inferior seats.
Mr Grace said while the bill aims to tackle profiteering, it is unlikely to improve significantly the ability of fans to obtain tickets for particularly high demand events.
"The main reason for the low level of secondary market activity for the recent Ed Sheeran concerts is that the artist and the promoter ensured that sufficient shows were put on to meet demand. It is not possible to do this however in other cases. The GAA cannot put on an extra All-Ireland final to meet the demand for tickets," Mr Grace said.
Mr Quinlivan acknowledged that it would not tackle demand for certain events such as All-Ireland finals, but he said it would go some way to alleviating the problem.