Senator Ron Wyden and others have released a draft proposal, "Fighting the Unauthorized Trade of Digital Goods while Protecting Internet Security, Commerce and Speech," that presents an alternative to the Stop Online Piracy Act (SOPA) and the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act of 2011 (PIPA).
Here's an excerpt:
We found that using trade laws to address the flow of infringing digital goods into the United States makes it possible to avoid many of the pitfalls that would arise from other legislative proposals currently being advanced to combat online infringement. Namely by putting the regulatory power in the hands of the International Trade Commission—versus a diversity of magistrate judges not versed in Internet and trade policy—will ensure a transparent process in which import policy is fairly and consistently applied and all interests are taken into account. When infringement is addressed only from a narrow judicial perspective, important issues pertaining to cybersecurity and the promotion of online innovation, commerce and speech get neglected. By approaching digital good infringement as a matter of regulating international commerce, we are able to take all of these factors into account.
Read more about it at "SOPA on the Ropes? Bipartisan Alternative to 'Net Censorship Emerges."