How Nick Saban helped inspire NIL legislation in Georgia that aims to help Kirby Smart in recruiting

Lawmakers in the state of Georgia have introduced legislation to exempt NIL income earned by college athletes at in-state institutions from state income tax. State senator Brandon Beach, along with four co-sponsors, filed Senate Bill 71 on Feb. 4th, and the reasoning is simple: to assist Georgia and Georgia Tech in recruiting battles. 

“I just think if we’re going to compete with Texas, Tennessee and Florida, who have no income tax, we’ve got to make sure Kirby Smart and Brent Key at our two major universities have the tools in their toolbox to be able to compete for these five-star athletes,” Beach told CBS Sports. “That’s all this bill does, is help Georgia and Georgia Tech be competitive with states that do not have an income tax.” 

Beach says he wasn’t approached by anyone affiliated with Georgia or Georgia Tech. Rather, the idea came from an unlikely source. 

“I had dinner at Lake Burton with Nick and Terry Saban and my wife and I and another couple, and he loves Kirby Smart like a son,” Beach said. “And he said, ‘If you want to help Kirby until they figure out all this in NIL stuff, one thing you could do is eliminate the income tax on NIL athletes.’ So I got the idea actually from Nick Saban.” 

A spokesman for Georgia Tech declined comment. Representatives for Georgia and Saban did not respond at time of publish. 

Forty-one states and the District of Columbia have state income tax. Georgia’s tax rate is 5.39 percent, down a quarter of a percent from last year. How athletes handle their taxes (and how much financial education schools provide to them) is a hot-button issue in the NIL era. It even varies in how schools handle taxes in the agreements they’re sending players to sign in advance of the finalization of the House…

Source link : https://www.cbssports.com/college-football/news/how-nick-saban-helped-inspire-nil-legislation-in-georgia-that-aims-to-help-kirby-smart-in-recruiting/

Author : Richard Johnson

Publish date : 2025-02-05 22:07:00

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