This is exactly what's written (normal NCAA double speak). The italics and bold are theirs, not mine.
The effective date is August of 2007, so it won't apply this summer. Interestingly, it's only for D2. There is no corresponding legislation concerning D1 in other sports than football/basketball.
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"12.2.4.2.1 Draft Exception -- Professional Basketball Draft -- Four-Year College Student-Athlete -- All Sports. An enrolled student-athlete in basketball may enter a professional league's draft one an unlimited number of times during his or her collegiate career and be drafted by any team in the league without jeopardizing eligibility in that sport, provided the student-athlete does not hire an agent, sign a professional sports contract or otherwise jeopardize his or her amateur status is not drafted by any team in that league and the student-athlete declares his or her intention to resume intercollegiate participation within 30 days after the draft. The student-athlete's declaration of intent shall be in writing to the institution's director of athletics.
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What I SUPPOSE is happening is that they are replacing the text in italics with the text in bold, but that's only a guess. Obviously, the sentences as written don't make a heck of a lot of sense.
If that supposition is true, then the statement should read:
"12.2.4.2.1 Draft Exception -- All Sports. An enrolled student-athlete may enter a professional league's draft an unlimited number of times during his or her collegiate career and be drafted by any team in the league without jeopardizing eligibility in that sport, provided the student-athlete does not hire an agent, sign a professional sports contract or otherwise jeopardize his or her amateur status
