Thursday the NCAA Playing Rules Oversight Panel approved a proposal that allows each conference to utilize one or two different formats after a 5-0n-5 overtime period.
After the 5-0n-5 overtime period, conferences may allow for either a five-minute, three-on-three overtime period and a shootout or just a shootout to award additional conference points.
This will not happen in non-conference games as those games will just end in a tie at the conclusion of the overtime. In the case of regular season tournaments, a 20-minute sudden death period can be played for overtime, instead of the traditional five-minute overtime period. These tournaments can use the three-on-three and shootout or the standalone shootout format.
Other rule changes were also approved which can be found here.