In a move that could shake up college athletics, U.S. Senator Marsha Blackburn has introduced new legislation targeting financial protections for student-athletes making money from Name, Image, and Likeness (NIL) deals.
The bill, called the Helping Undergraduate Students Thrive with Long-Term Earnings (HUSTLE) Act, aims to help athletes manage the big paydays that have become possible in recent years. It’s landing at a time when the NIL era—kicked off in 2021—has turned into what many call the *wild, wild West* of college sports.
The HUSTLE Act: Key Provisions
Senator Blackburn, who’s also running for Tennessee governor, crafted the HUSTLE Act to give college athletes some structure and protection around their NIL money. Here’s a look at what’s inside the bill:
Tax-Advantaged Investment Accounts
One major piece of the HUSTLE Act is the creation of special tax-advantaged investment accounts for student-athletes. These accounts are designed to help athletes save and invest for the long haul, not just the here and now.
The bill lets athletes roll over up to $35,000 in unused NIL funds into an IRA or another retirement plan, but only after they’ve been out of college sports for at least a year. The idea is to give them a shot at real financial security after their playing days are over.
Financial Education and Agent Regulation
The HUSTLE Act puts a big emphasis on financial education. Trustees would be required to teach athletes the basics of handling their money, hopefully helping them avoid the usual pitfalls.
On top of that, the bill asks the U.S. Department of the Treasury to set clear rules for NIL deals so there’s some consistency. It also says athlete agents must register with their state before representing anyone in NIL endorsements, and agent fees are capped at 5%. That’s supposed to keep bad actors at bay and make sure athletes aren’t getting fleeced.
Transparency and Public Registry
To make things more transparent, the HUSTLE Act would require groups like the NCAA to keep a public, searchable online registry of all certified athlete agents. That way, athletes and their families can actually check out who’s legit before signing anything.
Bipartisan Support and Legislative Journey
The HUSTLE Act isn’t just a one-party effort. Senator Maria Cantwell, a Democrat from Washington, and Texas Republican Senator John Coryn have both signed on as co-sponsors. That kind of bipartisan support is, honestly, a bit rare these days.
Right now, the bill is sitting with the Senate finance committee. No votes are on the calendar yet, but a committee spokesperson called the legislation timely and necessary. A lot of folks in college sports are watching closely to see what happens next.
Why Now? The Timeliness of the HUSTLE Act
This bill is landing at a pretty crucial moment. Since July 1, colleges have been allowed to pay athletes directly for their name, image, and likeness. The 2026 recruiting class will be the first to sign under these new rules, so having some structure in place feels overdue.
Adam Sparks, a Tennessee football reporter for Knox News, points out that college sports leaders have been practically begging Congress for regulations and an antitrust exemption to bring some order to the chaos. The HUSTLE Act is a real attempt to answer those calls.
Political Implications for Senator Blackburn
For Senator Blackburn, pushing this bill is a smart political move. It gives her a way to connect with voters who might not usually care much about politics.
She’s gotten nods from big names like SEC Commissioner Greg Sankey and the University of Tennessee at Knoxville, which definitely doesn’t hurt her image heading into the governor’s race.
Support from Influential Figures
SEC Commissioner Greg Sankey has thanked lawmakers for staying engaged on student-athlete issues. He called the HUSTLE Act a constructive step, especially for its focus on tax-advantaged accounts and financial education.
Getting that kind of support from someone at the top of college sports says a lot about the bill’s potential impact, even if it’s still early days.
The HUSTLE Act is making waves in the world of college sports. It pushes for tighter regulation of NIL deals, which honestly feels overdue.
By introducing tax-advantaged investment accounts, it tries to give student-athletes a safer way to handle their money. There’s also a requirement for financial education—finally, right?
The bill wants a public registry of agents too. That could help cut down on shady dealings, or at least make things a bit more transparent.
It’s got support from both sides of the aisle, and some big names are backing it. Feels like there’s real momentum for change here.
If you want to dig into the details or just see what all the fuss is about, check out the original article on Knox News.
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