For a while there, it seemed as if House Bill 353 was green-lit to breeze straight into life as a brand new piece of legislature, what with the odds seeming to be in its favor. However, according to Jack Thompson's tip to GamePolitics, it seems that governor of Utah Jon Huntsman (fellow Republican, at that!) has vetoed the bill. Though it received an overwhelming show of support when first introduced, it was very quickly shut down upon reaching the man most instrumental in making it reality.
Jack has been quite vocal about his support for the bill (which he helped author), and has even made an open appeal to President Obama for a nationwide ban on all violent gaming. All is not lost, however, as Jack has indicated that supporters of the bill plan to fight this veto quite fiercely. We'll see how things end up.