NJ A5729

Four-year institutions of higher education cannot prohibit student-athletes from earning compensation for use of their name, image, or likeness (NIL), and institutions may directly contract with and compensate student-athletes for NIL rights

Student-athletes under 21 years of age are prohibited from earning NIL compensation connected to alcohol, tobacco, electronic smoking devices, or cannabis products

Athletic associations including the NCAA cannot penalize New Jersey institutions or student-athletes for NIL activities, and affected institutions may sue for damages, attorney fees, and injunctive relief

Institutions must provide annual programming on financial literacy, brand management, and life skills to student-athletes, and NIL contracts are exempt from public records disclosure requirements

Repeals the 2020 "New Jersey Fair Play Act" (P.L.2020, c.83) and applies only to four-year institutions offering athletic scholarships (Division I and Division II)