Collegiate Athlete Compensation Rights Act

Collegiate Athlete Compensation Rights Act This bill addresses the rights of student athletes and issues of transparency and accountability regarding student athlete name, image, and likeness (NIL) agreements. Specifically, an athletic association, conference, or institution must permit a student athlete or a group of student athletes to market, or earn compensation for the value of, their NIL; and obtain or retain a certified agent for any matter or activity relating to such compensation. A third party may not use the NIL of a group to sell or promote any product or service without obtaining the written consent from each member of the group for that purpose. The Federal Trade Commission (FTC) must make available specified educational resources for student athletes with respect to financial and contract literacy and earning compensation for the commercial use of the student athlete's NIL. The bill sets forth prohibitions on activities of institutions, boosters, and third parties, including a prohibition on institutions, athletic associations, or conferences entering into NIL agreements with student athletes. The bill limits transfer penalties and prohibits incentives intended to induce the student athlete to enroll in, maintain enrollment in, or transfer to a particular institution. The FTC must establish an Office of Sport. The Government Accountability Office must report to Congress on the health, safety, and education needs of student athletes.