I like that the short (ahem) title of this 101-page document is Internet Gambling Prohibition, Poker Consumer Protection, and Strengthening UIGEA (which, itself, stands for 'Unlawful Internet Gambling Enforcement Act') Act of 2011. You can read the Act for yourself, here.
Seriously? I mean, come on. It took up three lines just to type that thing, guys. The initials alone make up a 9-letter acronym: IGPPCPSUA. Which, if said aloud, would sound something like "iggpeepeeceepeesewa."
That's not going to work, people.
Accordingly, I propose: GMTFBO, which...well, I'll let you wiggle out what that stands for (I will personally send a homemade music CD or, if you'd rather, a PokerLawyer t-shirt (yeah, it'll be homemade, too), to the first person who guesses my acronym in the comments below).
It's 100 pages, so I'm still in the process of reading it, but @NoahSD over at Subject:Poker has done a nice initial review and there are already good articles on the interwebs, like this one, from @OskarGarcia. [Edit - @PokerScout1 also has a good analysis, which you can read here.]
I know what you're wondering: "So when's it going to pass so I can GMTFBO?!" This may help:
On a serious note (and especially if you live in Texas, since the bill lets states decide whether to participate, and, um, Rick Perry is our Governor), you should still contact your representatives by telephone and email to let them know you support it. When Black Friday hit, I wrote a Do Something post that contains all the information you need to know what to say and to whom to say it. You can bypass that link and go here if you just want to know who your reps are.
I'm not holding my breath, but I do think it's good news. Plus, it's Friday.
On that note, go ahead. Show us your cocktails (#SUYC).