The legislation would immunize groups such as the Motion Picture Association of America and the Recording Industry Association of America from all state and federal laws if they disable, block or otherwise impair a "publicly accessible peer-to-peer network."
According to the draft, the attorney general must be given complete details about the "specific technologies the copyright holder intends to use to impair" the normal operation of the peer-to-peer network. Those details would remain secret and would not be divulged to the public."
Read the full article here at News.com. The link seen mentioned at Metafilter.
Don't think for a moment that this kind of bill can't and won't be passed. The huge multimedia corporations have had their hands up the legislators' asses directing their votes in a puppet-like fashion for a long time now. I don't see how this will be any different. Still, write or email your Congressman and let him/her know what you think.