Proposed government regulation/registration for free speech?

I can only imagine what prompted this. However, the sponsor's intent tramples our First Amendment rights. And like our Second Amendment rights, those enumerated in the First are worthy of vigorous defense.

BR 344 - Representative Rick G. Nelson (12/14/10)
AN ACT relating to information technology.
Create new sections of KRS Chapter 369 to establish definitions relating to Internet Web sites, blogs, and message boards; require registration by parties who post entries to these interactive services; require providers of these services to conspicuously identify the parties who post entries; require providers of these services to disclose, upon request, the names, addresses, and e-mail addresses of parties posting entries; establish penalties of $500 for first offense and $1,000 for each subsequent offense.