LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: SB 60 SLS 21RS 4
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: June 8, 2021 4:09 PM Author: CONNICK
Dept./Agy.: Higher Education
Subject: Student Athletes Analyst: Tim Mathis
AMUSEMENTS/SPORTS EN INCREASE SG EX See Note Page 1 of 1
Provides relative to the compensation of intercollegiate athletes for the use of their name, image, or likeness. (7/1/21)
Proposed legislation allows students participating in intercollegiate athletics to earn compensation as a result of the use of
the student’s name, image, or likeness, and provides that such compensation must be commensurate with market value.
Prohibits any compensation in exchange for athletic performance or attendance. Prohibits institutions, affiliates, or staff from
providing compensation for an athlete’s name, image, or likeness. Prohibits a post-secondary institution from preventing or
restricting an intercollegiate athlete from earning compensation for the use of his or her name, image, or likeness, unless it
conflicts with existing sponsorship agreements or institutional values. Such compensation shall not affect the athlete’s grant-
in-aid or athletic eligibility. Provides for legal representation of student athletes. Requires post-secondary institutions to
conduct a financial literacy and life skills workshop for a minimum of five hours at the outset of an athlete’s first and third
academic years. Provides that implementation of the proposed legislation shall not occur unless a postsecondary education
management board adopts policies. Effective upon governor's signature.
EXPENDITURES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. INCREASE INCREASE INCREASE INCREASE INCREASE
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total
REVENUES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
There will be increased expenditures for increased workload to ensure compliance and to provide the required financial
literacy and life skills workshops, however this will vary by institution. Institutions anticipate that increased expenditures will
be funded using athletics self-generated revenues. Implementation is subject to the adoption of policies by each
postsecondary education management board. The LFO assumes this will occur within one year of the bill’s passage; costs
may be reduced or delayed based on when institutions choose to adopt such policies.
There will be increased expenditures for certain institutions associated with staffing needs to ensure compliance with the
provisions of the law. For illustrative purposes, the LSU A&M athletics program anticipates a workload increase that will
require additional staff beginning in FY 22 as follows: $225,000 for three coordinator positions at $75,000 each ($51,635
salary plus 45% related benefits of $23,365); $50,000 for operating expenses for travel, acquisitions, software, and other
costs associated with the financial literacy workshop; and $75,000 for professional services to hire a consulting firm for
guidance on issues and execution of the name, image, and likeness program. Other institutions have indicated that they do
not anticipate a significant impact because their intercollegiate sports programs are not at a level where their athletes are
sought for promotional purposes, or that they anticipate any potential workload adjustments can be absorbed with their
current staff.
There will be increased expenditures for institutions to provide annual financial literacy workshops. Institution estimates
range from $10,000 to $115,000, based on the anticipated staffing needs, educational materials, software, and workshop
speakers. Other institutions that already provide a financial literacy program for student athletes may need to incorporate
additional material to comply with the proposed legislation.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues as a result of this measure.
Senate Dual Referral Rules House
x 13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
13.5.2 >= $500,000 Annual Tax or Fee Alan M. Boxberger
6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Staff Director