Seems it does if you don't want them to pass regulations.
No. It says that, if they do pass regulations, they can't affect certain models. One of the provisions defining what those certain models are has to do with flying within five miles of an airport. Until the regulations are written, nothing in this law has any effect on anyone flying within five miles of an airport, or anywhere else for that matter. The only prohibition in section 336 is a prohibition on what the FAA can do.
Does the new law impose a fine on people who fly within five miles of an airport? Does it say they will go to jail if they don't notify the airport first? Does it give the airport people the power to shut them down? Does it require any modeler to do anything? No. Nor does it keep the the FAA from passing regulations if people notify airports. It just makes rules about what the new regulations can cover. Those regulations, when they appear, may require some things of us, but until that day, we aren't required to do anything we didn't have to do last year.