Authorizes a student who is enrolled at an institution of higher education to: (1) Receive compensation for services actually provided, including payment for the use of the student's name, image, or likeness, as long as the compensation is commensurate with the market value of the services provided; and

(2) Agree to be represented by an agent for any purpose.

Prohibits a person from prohibiting or suspending: (1) A student from competing in an intercollegiate athletic competition, or otherwise penalizing a student, because he or she has engaged in certain conduct; and

(2) An institution of higher education's athletic team from competing in an intercollegiate athletic competition, or otherwise penalizing the institution, because a student enrolled at the institution has engaged in certain conduct.