S0306: Student Athlete Stipends

Legislative Summary

Amend The South Carolina Code Of Laws By Adding Section 59-101-900 So As To Define Necessary Terms; By Adding Section 59-101-910 So As To Provide That Participating Institutions In This State Shall Annually Award A Stipend To A Student Athlete Who Participates In An Intercollegiate Sport And Maintains Good Academic Standing During The Previous Year And To Provide Conditions For The Receipt Of Stipends; By Adding Section 59-101-920 So As To Provide That An Athlete May Only Receive One Stipend; By Adding Section 59-101-930 So As To Provide That All Stipends Are Financial Aid; By Adding Section 59-101-940 So As To Provide That Participating Institutions Provide Complete Accounting Of The Stipends; By Adding Section 59-101-1000 So As To Define Necessary Terms; By Adding Section 59-101-1010 So As To Provide That Participating Institutions Shall Create A Student Athlete Trust Fund And Fund The Trust With A Percentage Of The Intercollegiate Sport Gross Revenue; By Adding Section 59-101-1020 So As To Provide That Five Thousand Dollars Will Be Deposited Into The Fund On A Student Athlete's Behalf For Each Year That He Maintains Good Academic Standing, And To Provide That The Total Trust Fund Amount May Not Exceed Twenty-five Thousand Dollars Per Student Athlete, To Provide That A Participating Institution Shall Provide A One-time Payment To Each Student Athlete After The Fulfillment Of Certain Requirements; By Adding Section 59-101-1030 So As To Provide That An Athlete May Only Receive One Payment; By Adding Section 59-101-1040 So As To Provide That All Payments Are Financial Aid; By Adding Section 59-101-1050 So As To Provide That Participating Institutions Provide Complete Accounting Of The Payments.