Read H.R. 4279 here.
Here's what John Conyers has to say about it.
This is Public Knowledge's analysis of it.
The DOJ claims the PRO-IP Act is only a clarification of existing statutes, although that's not what it reads like to this non-lawyer.
I find H.R. 4279 terrifyingly broad and suspect that, like Prohibition and the War on Some Drugs, it will lead only to contempt for all laws, not to mention gutting Fair Use. I'm calling my representative—go thou and do likewise.