Antitrust exemption for intercollegiate athletic conferences and associations

(a) Definitions In this section: (1) Antitrust laws The term antitrust laws has the meaning given the term in the first section of the Clayton Act (15 U.S.C. 12), except that such term includes section 5 of the Federal Trade Commission Act (15 U.S.C. 45) to the extent such section 5 applies to unfair methods of competition. (2) Institution of higher education The term institution of higher education has the meaning given the term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001). (3) Intercollegiate athletic conference The term intercollegiate athletic conference means— (A) an organization or association that— (i) exclusively has as members 2 or more institutions of higher education; and (ii) arranges championships and sets rules for intercollegiate athletic competition; or (B) any institution of higher education that competes against another institution of higher education in an athletic competition. (4) Interstate intercollegiate athletic association The term interstate intercollegiate athletic association — (A) means a not-for-profit corporation, an association, or any other group organized in the United States that— (i) sponsors or arranges intercollegiate athletic competition between institutions and intercollegiate athletic conferences; (ii) sets common rules, standards, procedures, or guidelines for the administration of intercollegiate athletic competition at institutions; and (iii) is composed of 2 or more institutions or conferences that are located in different States; and (B) does not include a corporation, association, or other group affiliated with professional athletic competition. (b) Exemption The antitrust laws shall not apply to intercollegiate athletic conferences or interstate intercollegiate athletic associations.