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Student-athletes at Louisiana universities could work with marketing representatives if lawmakers agree to update the state’s name, image and likeness rules, Louisiana Illuminator reports.
Senate Bill 465, by Sen. Kirk Talbot, R-River Ridge, aims to update the law as the world of NIL continues to evolve at a rapid pace.
The bill would allow marketing professionals to link student-athletes with more money-making opportunities. Marketing professionals are distinct from agents, who typically represent the athletes in their dealings with professional organizations.
The bill would also require athletes to disclose any NIL contract they sign worth $600 or more, the same income threshold for required reporting to the Internal Revenue Service on Form 1099, which is used for money earned from an individual or business that isn’t an employer.
If approved, the proposal would also increase the frequency that student-athletes must take financial literacy classes from a single class over three years to an annual class.
