The name, image and likeness bill in the state of Nebraska is one step closer to becoming a reality after it received legislative approval via vote on Tuesday.

According to 247Sports, Legislative Bill 962 was approved on Tuesday and will now go to Governor Pete Ricketts. He will either sign the bill or veto it. Right now, though, it’s one step closer for student-athletes in the state of Nebraska to profiting from their name, image and likeness.

The bill was first introduced in January by Omaha Senator Megan Hunt. Other states have introduced similar legislation. Recently, the NCAA has also started wiggling away from its amateurism model and is likely to approve similar policies within the association.

If the bill is signed by Gov. Ricketts, it will go into effect on July 1, 2023. Below are some of the key points from the bill:

  • Institutions cannot prevent an athlete from participating in an intercollegiate sport because that athlete earns compensation for their name, image, or likeness rights or athletic reputation.
  • No collegiate athletic association can penalize or prevent a student-athlete from fully participating in an intercollegiate sport because they earn compensation for their name, image, or likeness rights or athletic reputation.
  • No collegiate athletic association can penalize a University or prevent an institution from fully participating in an intercollegiate sport because a student-athlete earns compensation for the use of such student-athlete‚Äôs name, image, or likeness rights or athletic reputation.
  • An institution cannot allow compensation earned to affect the duration, amount, or eligibility for or renewal of any athletic grant-in-aid or other institutional scholarship.
  • Any athlete who enters into a contract to benefit from their name, image, likeness rights or athletic reputation must notify their academic institution.
  • An athlete shall not enter into a contract that requires student-athlete to display a sponsor’s apparel or to otherwise advertise for the sponsor during official team activities and compliance with such contract requirement would conflict with a team contract.