This bill proposes to exempt intercollegiate athletic conferences and interstate intercollegiate athletic associations from federal antitrust laws. The primary goal is to remove legal scrutiny under statutes like the Clayton Act and the Federal Trade Commission Act concerning unfair methods of competition for these collegiate sports organizations. The legislation specifically defines an "intercollegiate athletic conference" as an organization of two or more higher education institutions that arranges championships and sets rules for athletic competition. An "interstate intercollegiate athletic association" is defined as a not-for-profit group sponsoring or arranging intercollegiate athletic competition between institutions or conferences in different states, explicitly excluding those affiliated with professional athletic competition.