In addition, it gives our version of NSA, the CSE, more powers to spy on people domestically - more accurately allowing CSE to share the information it is already collecting on Canadians with our domestic law enforcement agencies. So it will no longer simply be a foreign surveillance agency.
It will allow police to take down “terrorist propaganda” online.
It will create a secret no-fly list in Canada.
It will allow our health agencies and our tax agency (CRA our version of the IRS) to share information with our federal police. Among others:
http://www.michaelgeist.ca/2015/03/a-conversation-about-bill...
It also includes plans to expand the amount of data-sharing with the NSA and other five eyes. So I'm sure the Americans are backing this bill too, which Harper is famous for appeasing.