Sen. Rand Paul (R-KY) introduced legislation in the Senate on Tuesday that could redefine collegiate athletics, especially regarding student-athletes compensation.

Paul’s “Collegiate Sports Integrity Act” would exempt “athletic conferences, associations, and participating schools” at the college level from the nation’s current antitrust laws, according to a press release. The senator claimed his bill would “restore free-market principles” to student-athletes competing in college sports governed by the National Collegiate Athletic Association.

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“Antitrust laws have empowered judges—not students, not schools—to dictate the rules of college sports,” read a release issued by the senator’s office on Tuesday afternoon. “This bill puts decision-making back where it belongs: in the hands of the people directly involved. By removing these restrictions, the Collegiate Sports Integrity Act allows schools and student-athletes to voluntarily negotiate fair, flexible agreements that reflect their own values — not a federal mandate.”

Paul suggested his bill was about freedom for college athletes and supported “economic liberty.” He advocated that universities, colleges, and student-athletes competing in the NCAA should be able to construct their financial deals and arrangements without being subjected to judicial scrutiny or actions.

“This is about economic liberty,” said Paul. “College athletes and schools should be free to come to the table and make their own deals — without unelected judges micromanaging every detail. Whether it’s compensation, eligibility, or academic standards, Washington shouldn’t be calling the plays.”

Paul’s bill follows the landmark settlement earlier this month, in which a judge approved a settlement worth nearly $2.8 billion between the NCAA and student-athletes. ESPN reported that the agreement grants back pay to students who competed in college athletics between 2016 and the present day.

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As part of the agreement, colleges and universities will now pay athletes up to a certain amount annually. Beginning this year, it is believed the total payouts for student-athletes will be limited to $20.5 million per school, according to ESPN. Moreover, these payments will be supplementary to college scholarships or any other additional perks. 

“Rather than allowing a patchwork of court-imposed mandates, the bill reasserts the primacy of freedom of contract in higher education athletics,” noted Paul’s release.