The bill prevents the company from denying or penalizing you for opting out of the data selling, and gives consumers the right to opt out at any time.
(They should. Everybody deserves protection from this, even the people who don't understand the threat it poses. The uninformed, ignorant or naive all deserve protection, since preying on ignorance or naivety is generally considered abhorrent by anybody who's not totally morally defective.)
I was wondering about that point myself. I am thinking that they may not have the authority to create such law, so they still allow ISPs the ability to track but make it as restrictive as possible.
Alternatively maybe they didn't have the votes necessary for a more potent law. Maybe some of the politicians were scared of doing anything too dramatic maybe?