Her speech - like all speech - is still 1st amendment protected.
This bill targets universities - professors calling Israel an apartheid state, a university having a SJP/JVP chapter, student protestors etc. - since they receive DoE federal funding, that will be stopped under the terms of this bill. Universities will fire those professors, ban those chapters, expel those students, etc so that they are safe for Jewish students.
With the existing ideological tilt of the mainstream media and politicians, and social media companies outside Twitter (and with TikTok set to go) collaborating in "safety"-based censorship, it will effectively drive any fundamental criticism of Israel (beyond "Netanyahu isn't making good decisions") out of all discourse.
I'll be interested in the Right's long-term response to codifying the Israel exception into federal law in the name of anti-semitism, while "US is racist" is still permitted in mainstream circles. It could get ugly in a couple of different ways.