'DISCLOSE' Act?

Received this from the GOA:

Fresh from his efforts to seize government control of the health services sector (ObamaCare) and the financial markets ("finance reform"), Barack Obama has a new priority: silence his political opposition.

As satisfying as it was for Obama to seize control of one-sixth of the economy, he has had to suffer protest from the "little people" (like us). So he is pushing the Orwellian "DISCLOSE" bill (HR 5175) to make sure gun groups and other pro-freedom forces cannot mobilize their members in the upcoming elections.

Here's the bill from Thomas. HR5175.

I'll admit, most of it is incomprehensible jargon to me but a look at the sponsors on both the House and Senate versions make me think GOA may not be exaggerating much.

So is this bill a threat? O continuing Bush era policies?

Update: The NRA Alert on this bill and more at SIH.