NIL reporting

(a) Mandatory reporting by student athletes (1) Enrolled athletes All Division I student athletes enrolled at an institution are required to report the terms of any endorsement contract for covered compensation to the institution or a reporting entity designated by the institution not later than 5 business days after the date on which the student athlete executes the endorsement contract. (2) Recruited athletes With respect to a Division I student athlete who is or may be recruited to attend, but is not yet enrolled in an institution, and who enters into an endorsement contract, the student athlete shall, before signing a letter of intent, provide to the institution a copy of all current endorsement contracts entered into by the student athlete. (b) Mandatory reporting by institutions (1) In general Not later than 60 days after the date on which an academic year ends, each institution with 1 or more varsity intercollegiate sports programs shall submit to their governing athletic association a report that includes, for the academic year, the following: (A) The revenues and expenditures of each such sports program, including third-party donations, Federal funds, State funds, and compensation for personnel of each such sports program, individually and in aggregate. (B) The average number of hours student athletes spent on college athletic events and college athletic competition, disaggregated by sports program. (C) The academic outcomes and majors for student athletes, disaggregated by sports program. (D) The number, average, and total value of endorsement contracts entered into between the institution and student athletes, disaggregated by sports program. (2) Treatment of men's and women's programs An institution shall treat men’s and women’s sports programs as distinct sports programs for the purposes of reporting obligations under this subsection. (c) Mandatory reporting by associations Not later than 120 days after the date on which an academic year ends, each athletic association shall post publicly on an internet website of the athletic association a report that includes the information reported to the association by institutions pursuant to subsection (b). (d) Mandatory annual reporting by NIL collectives Each NIL collective shall, not later than 30 days after first entering into or arranging an endorsement contract, submit to each athletic association that governs any institution with which the NIL collective is affiliated, if any, the following: (1) The name and contact information for the NIL collective, including a telephone number, email address, and, if available, a website address. (2) The address of the principal place of business of the NIL collective. (3) A description of the type of business and business activity of the NIL collective, including whether it operates as a nonprofit and the varsity intercollegiate sports programs covered under its activities. (4) A description of the institution or institutions with which the NIL collective is affiliated or with respect to which the NIL collective engages in an endorsement contract or contracts with students of the institution or institutions. (5) A description of the relationship of the NIL collective with any varsity intercollegiate sports program, including any coordination with an institution.