Indianapolis, Indiana – The NCAA Division I Council voted on Monday in favor of an interim policy that would allow student athletes to profit from the use of their name, image, and likeness (NIL).

The announcement comes after the Supreme Court ruled earlier in June that the NCAA could no longer withhold education-related benefits from college athletes.

The decision was a victory for advocates calling for broader rule changes on questions related to student-athlete compensation, saying the current restrictions exploit players who play a crucial role in the billion-dollar industry's success.

If approved, the interim policy will be in place until the NCAA adopts a new policy or Congress passes national legislation on the issue, CNN reported.

Athletes Paige Bueckers channels Kris Jenner in hilarious WNBA Draft night memes

A statement released by the NCAA makes clear that the new policy "leaves in place the commitment to avoid pay-for-play and improper inducements tied to choosing to attend a particular school."

If the proposal is approved, athletes in states that have passed their own NIL laws, like Alabama, Florida, and Georgia, will be able to receive compensation in a manner "consistent with the laws."

Athletes in states that do not have such laws would be free to profit from signed autographs and endorsement deals. Nevertheless, colleges and conferences in those states reserve the right to dictate their own rules.

The NCAA Division I Board of Directors as well as Division II and III governance bodies are expected to vote on the interim recommendation on Wednesday.