This would be exciting except that in the unlikely event it passes the Senate, BHO will never sign it.
The way I read it is that if you have a CHL in your home state, then every other state that allows concealed carry must honor your permit (assuming it meets some minimum standard?).....
The biggest impact would be in forcing "May Issue" states like NY and CA to honor permits from out of state. WI, IL and DC would become the only places off limits, since they do not have any civilian concealed carry at all... However, since WI allows OC without a permit, maybe there's hope for WI...
SEC. 3. RECIPROCITY FOR THE CARRYING OF CERTAIN CONCEALED FIREARMS.
(a) IN GENERAL.—Chapter 44 of title 18, United States Code, is amended by inserting after section 926C the following:
‘‘§ 926D. Reciprocity for the carrying of certain concealed firearms‘‘
(a) Notwithstanding any provision of the law of any State or political subdivision thereof, related to the carrying or transportation of firearms, a person who is not prohibited by Federal law from possessing, transporting, shipping, or receiving a firearm, and who is carrying a government-issued photographic identification document and a valid license or permit which is issued pursuant to the law of a State and which permits the person to carry a concealed firearm, may carry a concealed handgun (other than a machinegun or destructive device) that has been shipped or transported in interstate or foreign commerce, in any State, other than the State of residence of the person, that—
‘‘(1) has a statute that allows residents of the State to obtain licenses or permits to carry concealed firearms; or
‘‘(2) does not prohibit the carrying of concealed firearms by residents of the State for lawful purposes.
It's rare that these days that I'm tempted to favor a new abuse of the commerce clause...