Senate Bill 23-293 Summary

• Institutions of higher education may identify, create, solicit, facilitate, and enable opportunities for student athletes to earn compensation for use of their name, image, or likeness with the student athlete's prior written consent.

• Institutions that solicit name, image, or likeness opportunities for student athletes must inform the athlete of the solicitation within seventy-two hours after making the solicitation.

• Student athletes who enter into compensation contracts for use of their name, image, or likeness must disclose the contract to their athletic director within seventy-two hours after entering the contract or before their next scheduled athletic event, whichever occurs first.

• Charitable organizations qualified as exempt organizations under 26 U.S.C. Section 501(c)(3) may compensate student athletes for use of their name, image, or likeness.

• The act takes effect 12:01 a.m. the day after the ninety-day period following final adjournment of the general assembly, unless a referendum petition is filed, in which case it requires voter approval at the November 2024 general election.