SB 23-293

Senate Bill 23-293, which has been signed into law by the governor and will take effect on August 7, 2023, allows colleges in Colorado (both public and private) to help student athletes earn money from using their names, images, or likenesses, as long as they give permission first. The bill also permits non-profit organizations that don’t operate like schools to pay student athletes for the use of their name, image, or likeness. This means that starting in August, Colorado’s student athletes will have more opportunities to earn money from endorsements and sponsorships while respecting their consent.

Official Summary

The act states that a public or private institution of higher education (institution) may identify, create, solicit, facilitate, and otherwise enable opportunities for a student athlete to earn compensation for the use of the student athlete's name, image, or likeness so long as the institution first acquires the consent of the student athlete. An institution that solicits such an opportunity for a student athlete must inform the student athlete of the solicitation within 72 hours after the solicitation. The act states that a charitable organization that is not an institution and that is exempt from taxation under federal law may compensate a student athlete for the use of the student athlete's name, image, or likeness. APPROVED by Governor June 6, 2023 EFFECTIVE August 7, 2023 NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)

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