The Helping Undergraduate Students Thrive with Long-Term Earnings Act establishes tax-exempt NIL investment accounts for student-athletes.

The Helping Undergraduate Students Thrive with Long-Term Earnings Act, also known as the HUSTLE Act, amends the Internal Revenue Code to create NIL investment accounts for student-athletes. These accounts allow eligible athletes to contribute their name, image, and likeness income tax-free. Participating institutions of higher education can elect to offer these accounts, which must meet specific criteria, including prohibiting investments in life insurance contracts and requiring the separation of account assets.

The Helping Undergraduate Students Thrive with Long-Term Earnings Act establishes tax-exempt NIL investment accounts for student-athletes.

The Helping Undergraduate Students Thrive with Long-Term Earnings Act, also known as the HUSTLE Act, amends the Internal Revenue Code to create NIL investment accounts for student-athletes. These accounts allow eligible athletes to contribute their name, image, and likeness income tax-free. Participating institutions of higher education can elect to offer these accounts, which must meet specific criteria, including prohibiting investments in life insurance contracts and requiring the separation of account assets.