Section 138312 could end IRA investing in syndications

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Has anyone looked at the draft legislation under consideration by the House in the Federal budget reconciliation bill? Specifically section 138312? If passed, it would restrict the ability of using IRA funds to invest in Regulation D offerings that are targeted at accredited investors.

This would effectively end the ability for accredited or sophisticated investors of using IRA funds to invest in private syndications. So 506b or 506c deals will see a giant pool of capital locked out from investing in these deals.

Even worse, it would require those currently invested in syndications with IRA funds to unwind them in 2 years. How would that even work?