Higher educational institutions; intercollegiate athletics, student-athletes, compensation.

Institutions of higher education; intercollegiateathletics; student-athletes; compensation, representation, and injury.Prohibits any private institution of higher education, baccalaureate publicinstitution of higher education, athletic association, athletic conference, orother organization with authority over intercollegiate athletics from (i)providing a prospective student-athlete with compensation that results from theuse of the student's name, image, or likeness; (ii) prohibiting or preventing astudent-athlete from earning from another individual or entity compensationthat results from the use of the student's name, image, or likeness, except incertain limited circumstances; (iii) prohibiting or preventing astudent-athlete from obtaining professional representation by an athlete agentor legal representation by an attorney licensed to practice law in theCommonwealth; or (iv) declaring ineligible for or revoking a scholarship providedto a student-athlete who earns compensation that results from the use of thestudent's name, image, or likeness. The bill prohibits any athleticassociation, athletic conference, or other organization with authority overintercollegiate athletics from prohibiting or preventing a private institutionof higher education or baccalaureate public institution of higher educationfrom becoming a member of or participating in intercollegiate athleticssponsored by such association, conference, or organization as a consequence ofthe compensation of a student-athlete at such institution that results from theuse of the student-athlete's name, image, or likeness. The bill requires eachprivate institution of higher education and each baccalaureate public institutionof higher education to establish (i) a sports injury compensation fund intowhich the institution shall deposit 7.5 percent of the revenue earned from itsintercollegiate athletics programs and from which any student-athlete whosuffers a serious or career-ending injury during a practice or competition mayapply for compensation upon his graduation and (ii) a wage fund into which theinstitution shall deposit 7.5 percent of the revenue earned from itsintercollegiate athletics programs and from which each student-athlete shallreceive an equal amount of compensation at the end of each academic year. Theforegoing provisions of the bill have a delayed effective date of July 1, 2024.The bill also requires the Chancellor of the Virginia Community College Systemto convene a work group consisting of such members as the Chancellor deemsappropriate to consider and make recommendations to the Governor and theGeneral Assembly no later July 1, 2022, relating to the compensation andrepresentation of student-athletes enrolled at comprehensive community collegesin the Commonwealth.