; and (3) in section 5(a)(1), by inserting or by the engagement of a booster in a practice that violates section 3A of this Act after section 3 of this Act . (b) Eligibility To compete as a student athlete after entering into an agency contract (1) In general Section 3(b)(3) of the Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7802(b)(3) ) is amended by striking boldface type stating: and all that follows through the end of the paragraph and inserting the following: boldface type stating: Notice to Student Athlete: If you agree orally or in writing to be represented by an agent now or in the future, both you and the agent you are agreeing to be represented by must notify the athletic director of the educational institution at which you are enrolled, or another individual responsible for the athletic programs at such educational institution, that you have entered into an agency contract. Such notification must be made within 72 hours after entering into the agreement or before the next athletic event in which you are eligible to participate, whichever occurs first. . . (2) Clearinghouse (A) Establishment Not later than 180 days after the date of the enactment of this Act, the Federal Trade Commission shall establish a clearinghouse for endorsement contracts entered into by student athletes and athlete agents who represent student athletes. (B) Agreement disclosure required (i) In general The Federal Trade Commission shall require each student athlete and each athlete agent who represents student athletes to disclose to the clearinghouse established under subparagraph (A) each endorsement contract entered into by such student athlete or such agent with a value of more than $500. (ii) Timing Disclosure of a contract under clause (i) shall be made not later than 72 hours after agreement on the contract. (C) Notification of institutions The Clearinghouse established under subparagraph (A) shall notify the relevant institution of higher education about each contract disclosed under this paragraph and shall make