New Law Is Great News For College Students In New York
It is now official and this is great news for college students in New York State.
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New York Governor Kathy Hochul recently signed into law a new bill that allows college student-athletes to be paid.
The new law is part of the New York Education Law and allows student-athletes in colleges in New York State to receive compensation for their name, image, and likeness or NIL.
The New York Collegiate Athletic Participation Compensation Act allows student-athletes to collect a salary from marketing agencies, agents, or other businesses without having to forfeit their scholarships.
The law in New York matches up with new laws passed by the NCAA in 2022 that allowed all student-athletes to collect money for their name, images, or likeness.
New York's law is more flexibile on what types of products athletes can endorse compared to other states but there are still some rules and regualtions on what athleres can endorse.
In New York, the law prohibits student athletes from endorsing products or services that conflict with existing sponsorships or endorsements between their college and third parties. The law includes a general prohibition on endorsement deals that might do hard to the college's reputation and/or financial loss.
California was the first state to pass an NIL law in 2019 and thirty other states followed suit over the next couple of years. New York with passing this law now gives it colleges and univerities to a chance to compete for student-athletes with NIL deals.