This is entirely about sanctioning discrimination against gay people as it is an exemption of penalties for discriminating. It gives permission to discriminate based upon sexual orientation.
It would be no different than someone saying they'd like to be exempt from discriminating against any group, that restaurants should be able to not serve blacks, that busses should be able to make asian people sit in the back, all without fear of losing their small business loan or public transportation subsidy. Or fear of losing their, you know, honor.http://beta.congress.gov/bill/113th/house-bill/3133
summaryMarriage and Religious Freedom Act - Prohibits the federal government from taking an adverse action against a person on the basis that: (1) such person acts in accordance with a religious belief that marriage is or should be recognized as the union of one man and one woman, or (2) sexual relations are properly reserved to such a marriage
full text of bill