SB3: AN ACT relating to student-athletes and declaring an emergency.

Legislative Summary

Amend KRS 164.6941 to define terms; amend KRS 164.6943 to allow the limitation of earning compensation through a NIL agreement through an institutional agreement between the student-athlete and the institution or affiliated organization; permit an institution or association to require compensation be consistent with the prevailing range of compensation; amend KRS 164.6945 to conform and authorize a student-athlete to receive compensation from an institution or its affiliated corporation through a written institutional agreement; authorize an institution or affiliated corporation to designate a media rights holder or other third parties whom an institution's student-athletes may directly enter into NIL agreements with; amend KRS 164.6947 to conform and provide affiliated corporation's employees with the same liability protections as institution employees as it relates to damages resulting from decisions and actions routinely taken in the course of intercollegiate athletics; delete language providing that nothing in the section protects institutions from acts of gross negligence and certain misconduct; exempt a student-athlete's institutional agreements not from disclosure under the Kentucky Open Records Act; amend KRS 164.6949 to include the waiver for actions brought on institutional agreements under KRS 45A.245; amend KRS 164.6951 to conform and include prospective student athletes in provisions concerning the reaffirming of NIL agreements or agency contracts when no longer participating in intercollegiate athletics; amend KRS 156.070 to include school property in the prohibition of a high school student-athlete's use of member school property; EMERGENCY.