practices A violation of subsection (b) shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act ( 15 U.S.C. 57a(a)(1)(B) ) regarding unfair or deceptive acts or practices. (2) Powers of Commission The Federal Trade Commission shall enforce subsection (b) in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ) were incorporated into and made a part of this Act. Any person who violates such subsection shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (3) Rule of construction Nothing in this section may be construed to limit the authority of the Federal Trade Commission under any other provision of law. 7. State preemption No State may enforce a State law or regulation with respect to permitting or abridging the ability of a student athlete attending an institution of higher education to enter into an endorsement contract or agency contract pursuant to this Act or an amendment made by this Act. 8. Rules of construction (a) Tax Nothing in this Act, or the amendments made by this Act, may be construed to affect the treatment of qualified scholarships under section 117 of the Internal Revenue Code of 1986. (b) Nondiscrimination Nothing in this Act, or the amendments made by this Act, may be construed to affect the rights of student athletes, or affect any program funded, under title IX of the Education Amendments of 1972 ( 20 U.S.C. 1681 et seq. ). (c) Antitrust Nothing in this Act, or the amendments made by this Act, may be construed to provide a cause of action pursuant to the Sherman Act ( 15 U.S.C. 1 et seq. ). (d) Employee status Nothing in this Act, or the amendments made by this Act, may be construed to affect the employment status of a student athlete who enters into an endorsement contract with respect to a covered athletic organization or an