Senate Bill 2486 Summary

• Brings forward the Mississippi Intercollegiate Athletics Compensation Rights Act (§37-97-101 et seq.) allowing student-athletes to earn compensation for use of their name, image, and likeness (NIL) through third-party agreements while remaining eligible to compete.

• Prohibits postsecondary institutions, athletic associations, and the NCAA/NJCAA from preventing student-athletes from earning NIL compensation or entering representation agreements with registered athlete agents or licensed attorneys.

• Establishes restrictions on NIL agreements including prohibitions on compensation for endorsing gambling, tobacco, alcohol, controlled substances, and products inconsistent with institutional values; requires written disclosure to institutions before entering agreements.

• Brings forward the Uniform Athlete Agents Act (§73-42-1 et seq.) requiring athlete agents to register with the Secretary of State, maintain records, provide written notice before contacting student-athletes, and comply with disclosure and contract requirements including mandatory warning notices to student-athletes.

• Establishes penalties for violations including felony charges (up to $10,000 fine and 2 years imprisonment), civil penalties up to $25,000, and provides educational institutions with private right of action against athlete agents for damages caused by violations; effective July 1, 2023.