First off, I have to say that I cannot believe none of you have heard of this issue. It has been in both the local and national news. If you are willing to do some reading, check out
this thread on Performance Boats. Follow the links for more info.
Long story short, this is a good thing. Without it, starting September 30, we would have been subject to all the regulations regarding discharges(cooling water, bilge water, deck water, ballast water.....) that huge ships are subject to. This means we would have been required to acquire permits to allow us to use our boats. You know that that would equal $$$$$ out of our pockets. We have been treated as "exempt" by the EPA since the passage of the Clean Water Act in 1973, even though there was no exemption written into that law. A court case in 2006, challenged that situation and won. This new law formally provides us with that needed exemption.
I strongly suggest you ALL read up on this so you can understand it instead of just guessing about what it may mean.