Provides that an institution of higher education may not agree to, or be subject to, the rules or policies of any organization, association, or any other type of entity, nor make a contract with any party, that dictates the terms, value, and conditions of student athlete scholarships relating to any of the following: (1) The terms or duration of a scholarship or stipend the value of which is below the actual cost of attendance at that institution;

(2) The amount earned from bona fide employment not associated with their sport;

(3) Health insurance;

(4) The ability to obtain licensed representation in making career choices;

(5) The ability to transfer to another institution of higher education if a head coach leaves the school of attendance or anticipated attendance.