College Sports NIL

Sens. Marsha Blackburn (R‑Tenn.) and Maria Cantwell (D‑Wash.) introduced the HUSTLE Act to create tax‑advantaged accounts for college athletes’ name, image and likeness (NIL) income, require financial education, and tighten oversight of athlete agents. The bill allows contributions up to the annual gift‑tax exclusion, permits up to $35,000 in unused funds to roll into an IRA once an athlete has been out of college sports for at least a year, and directs Treasury to issue regulations to prevent abuse. The proposal updates the Sports Agent Responsibility and Trust Act to require agent registration with states and aims to curb exploitative commissions and IP grabs.