KY SB130

Entities providing more than $1,000 in name, image, likeness (NIL) or athletics compensation to student-athletes or coaches in a calendar year must register with the Council on Postsecondary Education within 5 days of reaching that threshold.

Registered enterprises must file quarterly reports of all contracts with student-athletes and coaches, and pay an annual registration fee by April 15 equal to 10% of all intercollegiate athletics compensation paid in the previous year.

Collected fees and penalties fund a new scholarship program for non-athlete students at each institution, with funds distributed proportionally based on each school's share of reported athletics compensation.

Scholarship eligibility requires U.S. citizenship or permanent residency, Kentucky residency, non-athlete student status, FAFSA completion, and a scholarship application; recipients are selected by lottery.

The number of scholarships awarded at each institution must be at least equal to the number of student-athletes who received intercollegiate athletics compensation the previous year; the act takes effect January 1, 2027.