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What's going to happen to college basketball transfers in 2020-21?

The NCAA Division I council has opted not to vote on one-time transfer waiver legislation, which would have allowed undergraduate men's and women's basketball players to transfer without having to sit out for a year. Here are the implications, and what's next:

The one-time transfer legislation isn't happening for this season. When might it happen? When could a vote be taken on the legislation?

After originally planning to vote on May 20, the Division I Council instead opted to commit to a potential legislative change in January. The resolution, if adopted, would make transfer eligibility uniform across all sports, allowing student-athletes to immediately compete following their first transfer.