ELMIRA, N.Y (WETM) New York Collegiate Athletic Participation Compensation Act was introduced this past September and is currently being reviewed.
The bill has not passed yet but it would allow college athletes to receive compensation for their sport. New York Assemblyman Kevin Parker has submitted the act from lead in California.
A summary of the NY State Senate Bill is below,
“Relates to enacting the “New York collegiate athletic participation compensation act”; allows student-athletes to receive compensation including for the use of a student’s name, image or likeness; allows student athletes to seek professional representation; requires colleges to establish a sports injury health savings account to provide compensation to athletes for career ending or long-term injuries; requires colleges to establish a wage fund to be paid out to all student-athletes attending the college; requires colleges to take fifteen percent of revenue earned from athletics ticket sales and divide such revenue among student-athletes; establishes the community college athlete name, image and likeness working group.”
The purpose of the bill is to prevent schools in New York from taking scholarships or eligibility of athletes who currently make money from endorsements. This new bill would also let players to obtain an attorney or agent if they make business deals.