This bill was introduced to the Montana Senate in mid-February 2021, and took a little over two months to pass through the Senate and the House, and ultimately, be signed into law. The following components have been spelled out from the Bill:
Section 1. Student-athlete rights and protections.
Now that Student Athletes will have the ability to profit off of their name, image and likeness, they have to remain conscious about certain thresholds that could have certain tax consequences. Specific to the State of Montana:
The Montana NIL Law is an act establishing student-athlete rights and protections; ensuring that a student-athlete can earn compensation for the use of the student-athlete’s name, image, or likeness; and providing a delayed effective date.
Montana NIL started on July 1, 2021, per the NCAA Interim Policies and with the passage of State Bill 248, Montana State NIL laws will take effect on June 1, 2023.
Montana NCAA Student-Athletes will be able to earn compensation for the use of her or his name, image, or likeness (NIL) through a multitude of different opportunities. Student-Athletes can now make money for things such as endorsements, sponsorships, appearances, autographs, memorabilia, podcasts, camps, clinics, private lessons, crowdfunding, and many more!
Both athletes and administrators in the State of Montana should start by making sure they have a proper understanding of the rules and regulations set-forth by State Bill 248. A working-knowledge of the ‘Dos and Don’ts’ for Montana NIL will allow all parties to safely and successfully navigate the new landscape. The next most important aspect would be the compliance component of NIL. Not only do students need to make sure they are entering agreements that are compliant with the passed state regulations, but they need to make sure they are transparent with their school to avoid any institutional conflicts.
All institutions with NCAA athletic programs are affected by NIL. In the state of Montana, the following schools will be affected:
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