This bill, known as the HUSTLE Act, amends the Internal Revenue Code of 1986 to create NIL investment accounts for student-athletes. These accounts are designed to be exempt from taxation, allowing eligible athletes to save and invest income derived from their name, image, and likeness on a tax-deferred basis. The primary goal is to provide a structured financial vehicle for student-athletes to manage their earnings for future needs. An eligible athlete is defined as an individual enrolled at a participating institution of higher education who participates in an amateur or collegiate athletic program. Contributions to these accounts must be in cash from qualified NIL income , which includes earnings from endorsements, appearances, and licensing arrangements. Contributions are limited annually to the gift tax exclusion amount and are capped after the fifth taxable year an athlete receives NIL income while enrolled at a participating institution. Athletes can elect to exclude contributed qualified NIL income from their gross income, and it will not be subject to self-employment taxes at the time of contribution. Distributions from these accounts are generally includible in gross income. However, distributions made after the designated beneficiary graduates or transfers to a non-participating institution may be taxed at the preferential long-term capital gains rate, up to a specified annual limit. Distributions made before graduation or transfer, or those exceeding the capital gains limit, are taxed as ordinary income and may incur an additional 10% tax, unless they are qualified distributions . Qualified distributions cover expenses such as career transition costs (professional training, moving, career planning), qualified higher education expenses, or significant medical expenses. The bill also allows for tax-free rollovers between NIL investment accounts and permits a lifetime conversion of up to $35,000 from an NIL investment account into an individual retirement account (IRA) or Roth IRA after an individual ceases to be an eligible athlete for at least one year. Participating institutions of higher education must elect to participate and comply with the bill's requirements, including notifying trustees of student transfers or graduation. The Secretary of the Treasury, in consultation with the Secretary of Education, is granted authority to define eligible athlete criteria and issue guidance. Furthermore, trustees of NIL investment accounts are mandated to provide beneficiaries with educational materials on investing, financial planning, and the benefits of the accounts. The provisions of this act will apply to taxable years beginning after December 31, 2025.