HUSTLE Act

The HUSTLE Act would create tax-advantaged NIL investment accounts for student-athletes, allowing them to defer taxation on name, image, and likeness income contributed to the account and potentially benefit from long-term capital gains rates on distributions after graduation or transfer to a non-participating institution. The bill affects eligible athletes enrolled at participating institutions of higher education, permitting contributions up to annual gift tax limits and restricting preferential tax treatment after five years of qualified NIL income receipt. Distributions used for qualified expenses—such as career transition costs, higher education, or medical expenses—are exempt from an…

No official summary is available here. This one was written by AI from the bill’s text.