CO HB1041

Expands the definition of "student athlete" to include any individual who engages in or is eligible to engage in intercollegiate sports, while explicitly excluding high school athletes

Permits institutions and collegiate athletic associations to directly compensate student athletes for the use of their name, image, or likeness (NIL), removing previous prohibitions on such payments

Requires student athletes under 18 years of age to have a parent or guardian represent them in any NIL contract negotiations

Mandates institutions submit annual reports to the Department of Higher Education by January 15 each year, beginning in 2026, detailing gender- and sport-based spending on budgets, salaries, participation, financial aid, and revenue sharing payments

Protects personally identifiable information in NIL contracts from public records disclosure, including names, addresses, payment amounts, and social security numbers