Bill > SB1419

This bill establishes a comprehensive framework for Name, Image, and Likeness (NIL) opportunities for intercollegiate athletes in Tennessee, creating robust guidelines for how student athletes can earn compensation and how institutions can support these efforts. The legislation allows student athletes to earn market-value compensation for their NIL without it being tied to athletic performance, and provides institutions the ability to establish NIL funds, operate media networks, and implement a "talent fee" of up to 10% on ticket sales to support NIL activities. Institutions are required to conduct mandatory workshops for athletes on contract negotiation, tax responsibilities, and personal branding, and must provide mentorship programs to support NIL success. A statewide NIL oversight committee will be established to monitor implementation, publish annual reports, and resolve disputes. The bill mandates that at least 50% of NIL-generated funds be allocated directly to athletes, encourages the development of direct-to-consumer platforms, and prioritizes support for historically underserved institutions. Key provisions also include licensing requirements for NIL representatives, who must adhere to a fiduciary duty, and protections to ensure equitable opportunities across different sports and institutions. The bill is set to take effect on July 1, 2025, and aims to create a structured, transparent approach to NIL compensation that benefits student athletes while maintaining educational integrity.

Education

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1419&ga=114