The situation is uncertain. The feds have said that if the libraries want federal money, they will have to put filters on internet-accessible computers. School and public libraries are affected the most. The implications of the law vary between schools and publics. Schools already filter significantly.
Schools are prepared to adopt the filters to comply.
A lot of information that is not objectionable can be filtered out and it is unlikely a massive improvement in the filtering capabilities will occur in the near term. If the libraries have to filter, there are not specific steps set out yet. Actual filters will not have to be in place for roughly a year. The libraries will need to adopt a policy. If the law does go fully into affect with the quality of filters available, this will affect the materials that are available to the public.