(CBS DETROIT) – Michigan college athletes are one step closer to making money off of endorsement deals.

With an 8-to-1 vote in the house oversight committee, the proposal to let athletes in college earn compensation for their name image and likeness cleared its first hurdle.

If passed, the legislation could give athletes the ability to make a profit in an industry bringing in billions of dollars per year.

© 2020 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.