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Intercollegiate sports, especially football and men’s basketball, often generate millions in revenue for higher education institutions and the National Collegiate Athletic Association (NCAA) through student-athletes’ labor (Tynes, 2019). Historically, NCAA policies prevented players from working, or accepting financial incentives based on their amateur status (Brooks, 2019; Solomon, 2018). In September 2019, California changed this by authorizing Senate Bill 206. The bill will be implemented in January 2023, allowing student-athletes statewide to monetize their name, image and likeness (NIL). In July 2021, the NCAA ruled collegiate athletes nationwide could monetize their NIL rights on an interim basis. This paper examines potential equity implications of California SB-206 and similar legislation by analyzing institutional logics including amateurism as lenses to evaluate policy impact.