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This is from an online newspaper article. If I read correctly, an athlete would be limited to one transfer without sitting out. I have no idea how likely it is that the NCAA will even act on the report from the "working group". What I find more interesting is the final paragraph, as to how the frequency of transfers has already been increasing so much:

But buried in the 13th paragraph of a recent NCAA release about the working group soliciting input from presidents, coaches and administrators is this cryptic mouthful:
An academic transfer standard for all students that would tie one-time immediate eligibility for competition after transfer to a set of academic benchmarks instead of what sport the student-athlete competes (in).
We’ll provide the translation: Allow football and basketball players to transfer without sitting out a year as long as athletes already taking dumbed-down classes from friendly professors with unlimited tutoring achieve some sort of arbitrary academic threshold that will merely encourage them to take an even less demanding curriculum.
That curveball might flummox Average Joe Fan but it’s not getting past Div. I coaches in men’s basketball, where rosters go only 13 deep and a key transfer, in or out, can transform a team’s fortunes.

Even with the deterrent of sitting out a full year, the transfer market has gone tilt. According to verbalcommits.com, 848 Div. I men’s basketball players – or roughly 2.5 per team – sought new homes in 2017 alone, an increase of nearly 50 percent in just five years. The NCAA’s own data shows that on average two in five players will transfer by the end of their sophomore season.