What happens if
As best I can tell, this proposed law is to prevent Google from 'stealing' from Australian news sites (by linking to their articles or presenting excerpts without paying them for the privilege).
Let's say this does become law and Google subsequently quits Australia. If the collective profits for Australian news sites decreases the following year, will anyone be willing to admit that the entire premise of this law was faulty?
PS: My read is that the government is extorting a foreign company and giving the proceeds to local media. Displaying typical journalistic integrity, local media will fawn over the government whose handing them bags of cash. The opposition is too spineless to oppose much of anything, lest local media say bad things about them, and are secretly jealous they didn't concoct this quid pro quo themselves.