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The legislation still provides increased resources for the Justice Department to combat intellectual property theft and provide coordination for federal and state efforts against counterfeiting and piracy. It also increases penalties for intellectual property infringements.

Not all of the Bush administration's objections with the legislation were addressed, however. The bill replaces the body that currently enforces intellectual property law with a White House Intellectual Property Enforcement Coordinator. The new coordinator will chair an inter-agency committee to combat counterfeiting and piracy.

The Recording Industry of America gave resounding praise for the bill.

"At a critical economic juncture, this bipartisan legislation provides enhanced protection for an important asset that helps lead our global competitiveness," RIAA Chairman and CEO Mitch Bainwol said. "Additional tools for intellectual-property enforcement are not just good for the copyright community but for consumers who will enjoy a wider array of legitimate offerings."