HB 3941

Abstract

Creates the Illinois Athlete Agents Act of 2021. Requires licensure of agents for student-athletes with the Department of Financial and Professional Regulation and establishes qualifications for licensure and requirements for athlete agents. Sets forth provisions concerning the powers and duties of the Department, grounds for disciplinary action, requirements for agency contracts subject to the Act, a student-athlete's right to cancel the contract, notice to educational institutions, injunctive actions, investigations, and hearings. Establishes recordkeeping requirements for athlete agents. Prohibits athlete agents from engaging in specified conduct, subject to criminal and civil penalties. Includes other provisions. Preempts home rule powers. Effective January 1, 2021.