Let's hope AOPA & ASA can see this defeated;
The cost of background checking and the photographic licence will be borne by individual pilots. Licences will be valid for two years and will cost around $200.
Practical measures to mitigate against the risk of theft would be determined by the aircraft operators as appropriate and might include fitting auxiliary locks (for example to propellers or prop controls), securing aircraft in hangers or fitting door locks.
I see on couple of other major forums there has been some real heated debate.