Yep, they voted on it back in 2015. It’s 2024 now so how people still haven’t updated their knowledge on it is wild.
Power 5 (oops, 4) are NOT required to offer 4 year scholarships.
The rule: "Division I schools may provide student-athletes with multiyear scholarships ..." The option for all of Division I is "1 year" or "4 year"
Citation: NCAA Eligibility Center, 2023-24 Guide, at p. 28