Your article link is broken, so I haven't read it, and can't comment on it directly if it answers these questions, but...

I think it really will depend on how it's written. If it's only banning the "sale" of user location data, it might be possible to get around by selling unrelated data that just happens to come with location-identifiable data as an extra 'free' include, or something stupid like that... It's really going to come down to how it's enforced, and what kind of penalties there are for violating it. If it's enforced intermittently, and the fines are too low, nobody's going to care.

That said, it's a great step in a good direction. I'm from MA; the government here is occasionally somewhat sane when it comes to protections like this, so I've got hope that this will have some teeth. (Maybe unlike the right-to-repair legislation that passed years ago and still has yet to be enforced...)

Edit after the new link was posted:

The most exciting thing in here to me is:

Requiring law enforcement to provide a warrant to access user location data could also help curtail the rising trend of law enforcement buying that information commercially.

Law enforcement is quickly moving from "Mostly neutral" to "Outright hostile" to the general population and anything that curbs their abuses of the system is a net positive in my book.