This legislative proposal directs the Secretary of Homeland Security to implement an exemption from the Chemical Facility Anti-Terrorism Standards (CFATS) regulations for specific propane tanks. The core provision mandates that any propane tank with a capacity of up to 126,000 pounds of propane will be exempt from these federal security regulations. The bill's objective is to provide significant regulatory relief for entities that store propane within this specified capacity range, thereby reducing the compliance burden associated with CFATS for these particular storage units.