Standardization of Collegiate Oversight of Revenues and Expenditures Act or the SCORE Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require each coeducational institution of higher education (IHE) that is participating in a title IV program and has an intercollegiate athletic program to include in its annual report on its intercollegiate athletic program: (1) the amount of revenue generated by each item on a list of categorized sources, disaggregated by each sports team; and (2) the expenses attributable to each item on a list of categorized activities or obligations, disaggregated by each sports team.
The bill prohibits an IHE from being a member of any intercollegiate athletic association or participating in any national intercollegiate athletics competition organized by any person, unless the association or person annually reports and disaggregates by sport, athletic event, or contract, as applicable: (1) the total generated revenue and amount of revenue generated by each item on a list of categorized sources, (2) the amount of expenses attributable to each item on a list of categorized activities or obligations, and (3) executive compensation schedules.
The Department of Education (ED) must: (1) define the categories of information that must be reported; and (2) biannually review and, as necessary, update each definition in accordance with generally accepted accounting principles or significant changes in the national system of intercollegiate athletics.
ED must: (1) appoint a task force made up of representatives from division I, II, and III schools in the National Collegiate Athletic Association, and (2) consult with the task force when reviewing or updating the definitions.