HB 1400

AN ACT TO CREATE THE MISSISSIPPI HIGH SCHOOL STUDENT-ATHLETE NIL PROTECTION ACT; TO DEFINE CERTAIN TERMS; TO AUTHORIZE ANY STUDENT-ATHLETE TO EARN COMPENSATION FOR USE OF HIS OR HER NAME, IMAGE AND LIKENESS (NIL) UNDER CERTAIN CONDITIONS; TO PROVIDE THAT ANY NIL CONTRACT EXECUTED WITHOUT PARENTAL OR GUARDIAN CONSENT SHALL BE VOID AND UNENFORCEABLE, IF SUCH CONTRACT WAS EXECUTED BY THE STUDENT-ATHLETE WHEN HE OR SHE WAS UNDER THE AGE OF 18; TO PROVIDE THAT IF NIL COMPENSATION THAT IS PAID TO A STUDENT-ATHLETE IS $10,000 OR LESS DURING A CALENDAR YEAR, THEN SUCH COMPENSATION MAY BE PAID DIRECTLY TO THE STUDENT-ATHLETE OR HIS OR HER PARENT OR LEGAL GUARDIAN; TO PROVIDE THAT IF NIL COMPENSATION THAT IS PAID TO A STUDENT-ATHLETE EXCEEDS $10,000 DURING A CALENDAR YEAR, THEN SUCH COMPENSATION OVER THE $10,000 AMOUNT SHALL BE DEPOSITED INTO A RESTRICTED TRUST ACCOUNT, WHICH IS ESTABLISHED FOR THE BENEFIT OF THE HIGHSCHOOL STUDENT-ATHLETES; TO PROVIDE THE CONDITIONS WHEN THE FUNDS OF SUCH TRUST ACCOUNT SHALL BE RELEASED TO SUCH STUDENT-ATHLETES; TO BRING FORWARD SECTION 93-19-17, MISSISSIPPI CODE OF 1972, WHICH PERTAINS TO STUDENT-ATHLETES EIGHTEEN YEARS OF AGE OR OLDER HAVING THE CAPACITY TO ENTER INTO CERTAIN LEGALLY BINDING CONTRACTS, FOR PURPOSES OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.