UPDATE (4:15pm): Heisman Trophy Trust President William J. Dockery: ““The status of the USC / Bush matter remains unchanged. Any reports to the contrary are inaccurate.”

From a July statement on the issue: “The Trust will be considering the issues raised in the USC/Reggie Bush matter, and after reaching a decision will publish it, but due to the complex issues involved and the Trust’s desire to reach an appropriate decision, no definitive timetable has been established. Until the matter has been fully considered and a decision is reached, the Trust has no further comment.”

The Heisman Trophy Trust plans to strip former USC running back Reggie Bush of his Heisman by the end of September, sources told Yahoo! Sports Tuesday.

Bush would be the first player in the prestigious award’s 75-year history to have his Heisman revoked.

Yahoo! Sports reported that two sources have confirmed that the trust’s investigation into Bush, now with the NFL’s New Orleans Saints, confirmed the violations found earlier in June by the NCAA.

According to the NCAA, Reggie Bush received improper benefits from individuals hoping to represent Bush after his college days. USC was penalized because the collegiate athletics governing body found that at least one assistant coach was aware of the violations, but failed to report them.

No replacement will be named for Bush, according to the report. The 2005 trophy will instead remain vacant.

Athletic Director Pat Haden announced in July that USC would return the school’s copy of Bush’s Heisman. Haden later suggested that he felt that Bush should also return his copy of the award.

The Trojans may still lose their 2004 BCS national title, pending USC’s appeal of the sanctions to the NCAA.