Read the bill very carefully.  It has some bombshell clauses and addenda to it.

Example.  Some one posts a Fan Art render of Superman.  Marvel or DC or whomever holds whatever license decides to file a claim that the site is pirating their property.

Immediately, the site is shut down for a minimum of six months while the claim is investigated.

If the claim has no merit, then the site will be allowed to resume.  If the claim is found to have merit, then the investigation proceeds and the site is down indefinitely.

This is a very simplistic example.