Change provisions of the Nebraska Student-Athlete Name, Image, or Likeness Rights Act

LB 370 amends Nebraska's law governing college athletes' name, image, and likeness (NIL) rights. It clarifies that student-athletes may enter contracts for NIL compensation from third parties or collectives without penalty, and prohibits schools or athletic associations from penalizing athletes for earning such income. The bill defines key terms like "athlete agent," "NIL collective," and "compensation for NIL activities," while requiring written agency agreements and setting rules for professional representation. This directly affects Nebraska college athletes, their agents, schools, and third-party sponsors involved in NIL deals.