- permits schools to restrict an athlete from entering a deal that is contrary to the school’s code of conduct for moral reasons.
- prohibits compensation to be used for inducements with recruits and retention of current players.
- prohibits schools from representing athletes in NIL ventures or influencing an athlete’s choice of a representative.
- allows schools to prohibit athletes from engaging in NIL ventures that are concurrent with college athletic events or competition.
Athletes must report their NIL contracts to school within seven days of entering them, and recruits must disclose all current and expired NIL contracts to schools before enrollment. NIL contracts will not be subject to open-records laws at the federal and state level, according to the Act. However, the legislation does require schools to submit an annual report of their NIL deals — average and total value of NIL contracts — that will be used for a national public database.
