The proposed bill updates current statutes by allowing postsecondary education institutions to compensate student athletes for their name, image, and likeness (NIL) and provides a framework for such compensation. It introduces new provisions that prohibit institutions from using student fees for these payments, outlines restrictions on contract disclosures, and mandates that institutions notify student athletes of any violations. The bill also removes existing specifications that restrict the compensation student athletes can earn from their own NIL and clarifies that receiving such compensation does not classify them as employees. Additionally, the bill establishes legal remedies for violations, including injunctive relief, and ensures that records related to NIL contracts are confidential and not public records. It expands the ability of public universities and nonprofit organizations to conduct raffles to support student athletes and emphasizes that the outlined requirements do not infringe upon student athletes' rights under Title IX. Overall, the bill aims to enhance student athletes' rights and opportunities while providing a structured framework for NIL compensation and institutional compliance.

Statutes affected:
Introduced Version: 15-1892
Senate Engrossed Version: 13-3302, 15-1892, 13-3301, 15-1762
House Engrossed Version: 13-3302, 15-1892, 13-3301, 15-1762
Chaptered Version: 13-3302, 15-1892, 13-3301, 15-1762