Sec. 5. Prohibiting unfair or deceptive acts or 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 an applicable student athlete) or an organization (including a sponsor) that provides substantial financial assistance or services to the athletic program of an educational institution or that promotes a team or athletic program of an educational institution for purposes of the substantial financial interest of the individual or organization. ; 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 at a specific educational institution or group of such institutions, including that a booster may not orally or in writing enter into a contract or agreement with a prospective student athlete to provide the prospective student athlete with consideration for the use of the name, image, or likeness of the prospective student athlete until the prospective student athlete enrolls full time at the relevant institution. ; and in section 5(a)(1), by inserting or by the engagement of a booster in a practice that violates section 3A of this Act after section 3 of this Act . Section 3(b)(3) of the Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7802(b)(3) ) is amended by striking boldface type stating: and all that follows through the end of the paragraph and inserting the following: boldface type stating: . 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 you are agreeing to be represented by must notify the athletic director of the educational institution at which you are enrolled, or another individual responsible for the athletic programs at such educational institution, that you have entered into an agency contract. Such notification must be made within 72 hours after entering into the agreement or before the next athletic event in which you are eligible to participate, whichever occurs first. . Not later than 180 days after the date of the enactment of this Act, the Federal Trade Commission shall establish a clearinghouse for endorsement contracts entered into by student athletes and athlete agents who represent student athletes. The Federal Trade Commission shall require each student athlete and each athlete agent who represents student athletes to disclose to the clearinghouse established under subparagraph
(A)each endorsement contract entered into by such student athlete or such agent with a value of more than $500. Disclosure of a contract under clause
(i)shall be made not later than 72 hours after agreement on the contract. The Clearinghouse established under subparagraph
(A)shall notify the relevant institution of higher education about each contract disclosed under this paragraph and shall make such disclosures available to the public on a regular basis. The Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7801 et seq. ), as amended by this Act, is further amended by inserting after section 6 the following new section: Not later than 180 days after the date of the 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 investigations or enforcement actions brought by the Commission pursuant to this Act during the preceding 1-year period, including the number of complaints filed with the Commission pursuant to this Act during such period. .
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Sec. 5
Prohibiting unfair or deceptive acts or practices against student athletes
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