It will never happen because there is no way USC, UCLA, Cal Poly or any other school that is worth a flip will pull out of the NCAA and go independent and not be allowed to be a part of the NCAA tournaments or play NCAA teams. The schools have nothing to gain so why would they accept it. The schools will make players sign a contract that says even though the state of California allows it, you cannot accept money and play on our team. The NCAA has already addressed this when it was presented by saying they will ban all schools in California from NCAA participation if it is passed and put into effect.
They have everything to gain. If these schools went independent, big deal. The PAC-12 sucks for revenue for teams, crappy TV deal for football, etc. This bill will immediately make these schools coveted by top players. Why wait 1 year (basketball) or 3 years (football) to start making serious coin when you can start as a freshman, start building your brand, and then expand on that when/if you go pro? You people have it all wrong. California D1 programs should be drooling over this.