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This is all really confusing and will take Glenn and others to sort out, but just reading some of the motion that Wired linked to, these stand out to me, anyway:
Indeed, now that Congress, in returning to the balance it generally struck when it enacted FISA in 1978, has expressly clarified that surveillance directed at individuals reasonably believed to be outside the United States does not constitute electronic surveillance as defined in FISA, Plaintiffs cannot claim that any alleged surveillance directed at individuals outside the United States violates FISA, the Administrative Procedure Act, or the separation of powers doctrine.
anonymousliberal.com wrote about the above today.
Also, there seems to be some kind of coverage for whatever programs this new law covers that were in effect at the time the update was enacted:
Finally, the statute expires 180 days after the date of enactment, although authorizations for the acquisition of foreign intelligence information pursuant to the statute shall remain in effect until their expiration, and the Government has the option during the 180 days to continue to seek the FISC’s authorization or reauthorization of surveillance under the provisions of FISA as they existed on the day before enactment of these amendments.