A 11717: Requires that if compensation in excess of ten thousand dollars per year is paid to a student-athlete who is a minor from contracts for the use of the student-athlete's name, image and likeness, all amounts in excess of ten thousand dollars must be deposited into a restricted trust account established for the benefit of the student-athlete.

  
  STATE OF NEW YORK ________________________________________________________________________ 11717  IN ASSEMBLY September 16, 2026 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Solages) -- read once and referred to the Committee on Higher Education AN ACT to amend the education law, in relation to compensation received by minor student-athletes from contracts for the use of a student- athlete's name, image and likeness The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 6438-c of the education law is amended by adding a 2 new subdivision 9 to read as follows: 3 9. (a) The provisions of this subdivision apply to a student-athlete 4 who has completed at least their sophomore year of high school or inter- 5 national equivalent, and is eligible, or may in the future be eligible, 6 to attend a college and participate in intercollegiate athletics. The 7 provisions of this subdivision shall not apply to student-athletes eigh- 8 teen years of age or older. 9 (b) If total compensation earned from the use of a student-athlete's 10 name, image and likeness paid to a student-athlete during a calendar 11 year is ten thousand dollars or less, such compensation may be paid 12 directly to the student-athlete or the parent or legal guardian of such 13 student-athlete. 14 (c)(i) If total compensation earned from the use of a student- 15 athlete's name, image and likeness paid to a student-athlete during a 16 calendar year exceeds ten thousand dollars, all amounts in excess of ten 17 thousand dollars shall be deposited into a restricted trust account 18 established for the benefit of the student-athlete. 19 (ii) The trust account described in this paragraph shall be adminis- 20 tered in a manner consistent with New York state law applicable to 21 settlement funds involving a minor, except as modified by this subdivi- 22 sion. 23 (iii) Funds held in trust as described in this subparagraph shall not 24 be released until the student-athlete graduates from high school or 25 attains the age of eighteen, whichever occurs first. 26 (iv) The trust account shall: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16167-01-6 
 A. 11717 2 1 (A) be established by the parent or legal guardian of the student-ath- 2 lete; 3 (B) prohibit withdrawals except by court order or as provided herein; 4 and 5 (C) be subject to judicial supervision upon petition if necessary. 6 (d) The superintendent of financial services shall add, amend and/or 7 repeal any rule or regulation necessary for the implementation of this 8 subdivision on its effective date. 9 § 2. This act shall take effect on the first of July next succeeding 10 the date upon which it shall have become a law and shall apply to all 11 contracts entered into by any student-athlete on and after such effec- 12 tive date.