The bill amends existing laws regarding intercollegiate athletes' compensation and rights, specifically focusing on their ability to earn compensation for the use of their name, image, or likeness (NIL). It establishes that athletes may earn such compensation under certain conditions, including compliance with the rules of athletics governing associations. The bill allows for the participation of postsecondary institutions in NIL endeavors and mandates that institutions cannot unduly restrict athletes from obtaining professional representation, which now includes marketing representatives. Additionally, it requires athletes to disclose contracts valued at $600 or more to their institutions and mandates annual financial literacy and life skills training for athletes.

Furthermore, the bill provides immunity from liability for postsecondary institutions and their employees regarding decisions that may affect an athlete's ability to earn compensation from NIL agreements. This immunity extends to actions related to the athlete's eligibility and the administration of institutional policies. The bill also emphasizes the importance of providing resources to support athletes in their NIL participation, ensuring they are informed and prepared to navigate these opportunities. Overall, the legislation aims to enhance the rights and protections of intercollegiate athletes in the evolving landscape of college sports.

Statutes affected:
SB465 Original: 17:3703(A)
SB465 Engrossed: 17:3703(A)
SB465 Reengrossed: 17:3703(A)
SB465 Enrolled: 17:3703(A)
SB465 Act 358: 17:3703(A)