Amends the Federal criminal code to revise the scope of, and penalties under, the Hobbs Act (prohibiting interference with commerce by…

Official title: A bill to amend section 1951 of the United States Code, and for other purposes.

Amends the Federal criminal code to revise the scope of, and penalties under, the Hobbs Act (prohibiting interference with commerce by threat or violence). Redefines "extortion" for the purposes of such Act to mean obtaining property from another with consent by use of actual or threatened force, violence, or fear thereof, or wrongful use of fear not involving force or violence, or under color of official right. Expresses Congressional intent not to exclude Federal jurisdiction on the ground that conduct involving force, violence, or fear thereof, takes place in the course of a legitimate business or labor dispute. Requires that the extent of property damages be at least $2,500 for purposes of the prohibition against obstructing commerce by willfully damaging property. Increases the maximum penalties for such offenses, including enhanced penalties where death, bodily injury, or property damage exceeding $100,000 results.