The act states that a public or private institution of higher education (institution) may identify, create, solicit, facilitate, and otherwise enable opportunities for a student athlete to earn compensation for the use of the student athlete's name, image, or likeness so long as the institution first acquires the consent of the student athlete. An institution that solicits such an opportunity for a student athlete must inform the student athlete of the solicitation within 72 hours after the solicitation.
The act states that a charitable organization that is not an institution and that is exempt from taxation under federal law may compensate a student athlete for the use of the student athlete's name, image, or likeness.
APPROVED by Governor June 6, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)