The meat of the bill is that it establishes a commission (yes yet another, unpaid though!) that will establish and forward best practices to AG Barr concerning child sexual exploitation online. It is possible that one of the recommendations might be establishing a backdoor. In the future that recommendation would then be used to argue for legislation.

Snowden is great, but do your own research.

Edit: I usually trust Snowden as well. I could be missing something in this bill. EFF did not provide specifics. Hopefully someone here can.