The law did pass, but it was amended to be 50mph over the limit, it includes cars, and there is a three tiered enforcement with first offense resulting in $1000 fine, second offence resulting in $2500 fine, and third offense resulting in jail and loss of vehicle. Just don't go 50mph over the speed limit unless you do not intend to stop (which I believe anyone going 50mph over has already decided not to stop).

The law is just so politicians can say they did something about the hooligan bikers the next time they come up for election. It is not actually going to affect anyone.