Student Athlete Stipends

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING ARTICLE 9 TO CHAPTER 101, TITLE 59 SO AS TO DEFINE NECESSARY TERMS; 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; TO PROVIDE THAT AN ATHLETE MAY ONLY RECEIVE ONE STIPEND; TO PROVIDE THAT ALL STIPENDS ARE FINANCIAL AID; TO PROVIDE THAT PARTICIPATING INSTITUTIONS PROVIDE COMPLETE ACCOUNTING OF THE STIPENDS; BY ADDING ARTICLE 10 TO CHAPTER 101, TITLE 59 SO AS TO DEFINE NECESSARY TERMS; 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; 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; TO PROVIDE THAT AN ATHLETE MAY ONLY RECEIVE ONE PAYMENT; TO PROVIDE THAT ALL PAYMENTS ARE FINANCIAL AID; AND TO PROVIDE THAT PARTICIPATING INSTITUTIONS PROVIDE COMPLETE ACCOUNTING OF THE PAYMENTS.