No fees would do more than end D1 status. It would end all athletic programs. Oh, and all clubs and any other activities that require money outside of the classroom.
That may be the intent of the proposed legislation... but what is stopping a university from rolling that cost into tuition?
If my telecom company wasn't able to charge the "federal admin fee", "state regulatory fee", "local franchise fee", or the "neighborhood your-zip-code-has-a-higher-than-average-income fee" they would just raise the price of my service from the advertising-friendly $49.99 to the true $60.53.