Each conference would be a separate bargaining unit, and its athletes could bargain for compensation, working conditions, etc. The bill would also specify that the current tax status applied to athletic scholarships would not change, and that an athlete being considered an employee would not create additional tax burdens or impact her eligibility for federal financial aid.
I’m not hugely thrilled with this one, but the NCAA’s failure to clean up its own house has created opportunities like this (and indeed the NCAA asked Congress to act because it has been unable to do so). Be careful what you wish for…