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Looks to remove some of the Interstate firearms restrictions for purchasing from dealers. Sounds like it could be a good thing.

http://hatch.senate.gov/public/index.cfm/releases?ID=23d4f864-2469-4ee3-9fba-7eb0834ab192

Recognizing the need to revamp outdated and restrictive gun laws, U.S Senators Mark Begich (D-Alaska) and Orrin Hatch (R-Utah) have introduced the Firearms Interstate Commerce Reform Act. The bill allows for the interstate sale of firearms and removes several antiquated and unnecessary restrictions imposed on interstate firearms transactions.

...

The new law would allow:

Individuals to buy handguns, as well as rifles or shotguns, from licensed dealers in another state, subject to the background check requirement. The buyer and dealer would still have to meet in person and comply with the laws of both states; Dealers to engage in their business at gun shows in other states, but would have to comply with the laws in the state where the gun show takes place; The bill would reduce theft and loss of firearms during shipment between dealers by getting rid of a provision that says dealers may not transfer firearms to one another face to face, away from their business premises. Currently, dealers who agree on a sale are forced to return to their businesses and ship firearms to one another which involves some risk of theft or loss. The new law would allow an in-person exchange.

Similar legislation has been introduced in the House.
 
This is the fourth time this bill has been introduced in the last ten years and it's never managed to get out of committee, even when Republicans controlled both Houses.

112th Congress: S. 1691
111th Congress: H.R. 1074
109th Congress: H.R. 1384: Firearm Commerce Modernization Act
108th Congress: H.R. 4048: Firearm Commerce Modernization Act

So I wouldn't be holding my breath. I noticed the NRA report on the 2006 bill was exactly the same as the current one, they just changed the dates and names of the sponsors.
 

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