Sec. 5. Prohibiting unfair and deceptive practices against student athletes
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The Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7801 et seq.) is amended— in section 2— by redesignating paragraphs
(4)through
(9)as paragraphs
(5)through (10), respectively; and by inserting after paragraph
(3)the following new paragraph: The term booster means an individual (other than an individual who is related to a student athlete) or an organization, including a sponsor of an institution’s athletic program, that provides substantial financial assistance or services to the athletic program of an institution of higher education or that promotes a team or athletic program of an institution of higher education for such individual’s or organization’s own substantial financial interest. ; by inserting after section 3 the following new section: It is unlawful for a booster to directly or indirectly provide or offer to provide any funds or thing of value as an inducement for a student athlete to enroll or remain at a specific institution or group of institutions. ; and in section 5(a)(1), by inserting or by the engagement of any booster in a practice that violates section 3A after section 3 . Section 3(b)(3) of the Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7802(b)(3) ) is amended in the quoted part by inserting after boldface type stating: the following: . Notice to Student Athlete: If you agree orally or in writing to be represented by an agent now or in the future, both you and the agent by whom you are agreeing to be represented must notify the athletic director of the educational institution at which you are enrolled, or other individual responsible for athletic programs at such educational institution, that you have entered into an agency contract. Such notification must be within 72 hours after entering into this contract or before the next athletic event in which you are eligible to participate, whichever occurs first. The Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7801 et seq.) is further amended by inserting after section 6 the following new section: Not later than 6 months after the date of enactment of this section, and annually thereafter, the Commission shall submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report summarizing any investigation or enforcement action brought by the Commission pursuant to this Act, including the number of complaints filed with the Commission pursuant to this Act. .
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