HI SB3263

Establishes a Name, Image, and Likeness (NIL) Endowment Trust Fund administered by the University of Hawaii to compensate student athletes, with an initial corpus of at least $10,000,000 that cannot be allocated or spent.

Requires the University of Hawaii to match any legislative appropriations dollar-for-dollar from funds raised specifically for NIL purposes, with the fund also receiving athletics revenues and accrued interest.

Mandates that student athletes receiving NIL compensation must retain an athlete agent registered with the director of commerce and consumer affairs, though parents or legal guardians may represent athletes in agreed-upon areas.

Requires UH to submit an annual report to the legislature by December 1 detailing revenues raised, fund balance, compensation amounts by team, and the distribution formula used.

Fund reverts to the general fund if NIL compensation is no longer authorized or if UH no longer operates a Division I NCAA sports program; effective date set for July 1, 2050.