Allows college and prospective college athletes to market and be paid for their name, image, and likeness (NIL), lets them form or use collectives and hire representatives, creates registration and reporting rules for institutional NIL collectives, funds a Commerce Department market study of NIL compensation, adds an F‑visa category to permit paid NIL activities for international athletes, and gives the FTC and private parties enforcement tools while preempting state laws that would block these activities. The Act also clarifies that it does not change the tax treatment of qualified scholarships.