What Does HR 5092 Really DO?

Milk-Carton Barrett and the JS editors aside, here are the facts on HR 5092:

H.R. 5092--the “Bureau of Alcohol, Tobacco, Firearms, and Explosives (BATFE) Modernization and Reform Act of 2006”--will improve BATFE’s process for punishing the few FFLs who violate the law, and will establish guidelines for BATFE investigations. This bill was drafted in large part to address recent, blatant BATFE abuses at Richmond, VA-area gun shows highlighted in hearings before the U.S. House Judiciary Committee’s Subcommittee on Crime, Terrorism and Homeland Security. This legislation has passed out of committee and will be voted on in the full House during the week of September 18.

Yah. Sounds like "keeping secrets from local police" to me...