A new bipartisan bill is expected to be released in the United States Senate this week from U.S. Sen. Ted Cruz (R-Texas) and U.S. Sen. Maria Cantwell (D-WA) to regulate college sports.

According to a report from Ross Dellenger of Yahoo Sports, the bill would give the NCAA some limited antitrust exemption over transfer and eligibility rules, which hopefully would give them the ability to enforce its own rules without risk of legal appeal in courts.

While the introduction of the bill is only the first step in a very lengthy process, it does feel like a significant measure after the SCORE Act was pulled from the House floor shortly before SEC Spring Meetings this week in Destin.

The House v. NCAA settlement — which was finalized last June and allows NCAA member universities to directly pay their athletes, as well as compensating former athletes for past Name, Image, and Likeness losses — is expected to have portions of it codified in this new bill and offer the option to pool media rights and create an agent registry system.

Dellenger did reveal that the anti-employment concept, which was a huge part of the SCORE Act and subsequently why it fell flat, is not going to be a part of the new bipartisan bill.

It would also provide athlete protections including guarantees related to scholarships as well as medical care with the ability to take legal action in order to secure those protections.

While there are obviously a number of hurdles to still clear, this feels like one of the most significant steps taken yet in getting a handle on an era in college sports with no guardrails. Something needs to be done soon before it’s too late, and perhaps this bill could prove to be a landmark moment for the future of athletics.