Bill > SB130

This bill establishes new regulations for entities that provide compensation to student-athletes and coaches for their name, image, likeness, or participation in intercollegiate athletics, defining such payments as "intercollegiate athletics compensation." Any "intercollegiate athletics enterprise" (a person or entity making these payments) that cumulatively provides over $1,000 in such compensation annually must register with the Council on Postsecondary Education. This registration requires quarterly reporting of contracts and compensation amounts, and an annual fee of 10% of all compensation provided in the previous year. These collected fees will be deposited into a restricted account and then distributed to postsecondary institutions proportionally based on the intercollegiate athletics compensation their student-athletes and coaches received. Institutions will use these funds to establish scholarship programs for students who are not participating in intercollegiate athletics, with eligibility requirements including U.S. citizenship or permanent residency, Kentucky residency, completion of the Free Application for Federal Student Aid (FAFSA), and a scholarship application. Scholarships will be awarded annually by lottery, with the number of scholarships granted by an institution being at least equal to the number of its student-athletes who received intercollegiate athletics compensation in the prior year. This Act takes effect on January 1, 2027.

Government Affairs

https://apps.legislature.ky.gov/record/26RS/sb130.html