This is the problem with how laws are drafted now. This particular one could easily be worded to avoid being turned into a new version of SOPA, but they feel the need to make it as broad as possible.
There is a need to track cyber attacks coming from other countries, so just make the darn bill specific to that threat. There was a report on the BBC last week that just about every large company has been hacked from China and product information and designs stolen, then those products show up in China a few months later. So I guess that's why they put the IP wording in, if they had put language in to limit the IP theft to foreign sources it would have been better.
Of course IP theft has been going on forever, it's just easier now, instead of getting a product and reverse engineering it, all you have to do is hack into the company and steal the design plans.