Part M-Light is at the stage now where EASA has published an Opinion (which is part of the legal due process). This Opinion is then considered by the EU Member States in the EASA Management Board (confusingly titled as it is not EASA people, but member states' representatives) in the process known as comitology. So this proposal, which has been worked on for a year or more with industry experts and NAAs is not yet EU law but one can reasonably expect it to be so later this year.
It is now 10.5 years since organisation I speak for raised the red flag at EASA - on 5 November 2005 - about the original (2003) Part M which was expected to be applied equally to CAT / airlines and the lightest end of civil aviation. It has been a painful road to this, but at last we seem to have a framework that provides a sensible degree of flexibility for pilot / owners operating aircraft non-commercially, up to 2,730 kg MTOM (I think, need to check it has gone beyond the ELA 2 limit of 2,000 kg being talked about earlier in the process).
Instead of some folks continuing to moan, why don't we for once recognise EASA has been moving in the right direction, albeit at a relatively snail's pace. You will never get rid of the legal constructions that make it complex to read because this is EU law and lawyers rule supreme (unfortunately) in Brussels. A layman's version of Part M Light would of course be welcome.