This law is being framed around things like sports brand (Nike) deals, but it most certainly does not end there.
For example, in principle, the outline of this law could allow a booster to offer a $50,000 contract to each new recruit for signing their names 100 times. Could something like this influence a kid who is choosing between Northwestern and Michigan?
And if the NCAA tries to maintain it's rules against boosters, then football factory schools will just launder that process enough to exclude boosters, while still using booster money.
Some cynics will say dirty money already impacts recruiting, and while that's true, the difference now is that these deals will be front page news and the lead stories on SportsCenter - essentially becoming sanctioned ads for what currently happens covertly and is subject to penalty.
It's far too late now, but the best thing the NCAA could have done was offered trusts to student athletes, where they would have been eligible to earn a percentage of tv rights (and jersey sales, where applicable) to be held until their 25th birthday (or, pick a year, whatever). Even if they would have done this at a modest level 15 years ago, it would have controlled the argument to a point where now we might just be debating the percentage or the date that the trust becomes available to the player. Instead, the NCAA and college administrators' collective greed has taken the control out of their own hands, which will ruin the sport, but...whatever. Enjoy it while it lasts.