Read the law before you sign the petition; it doesn't really do much:
•It still treats hitting a bicyclist/horserider/pedestrian with a car as only an infraction; at least raise it to a misdemeanor.
•Fines increased from $65 - $95 to $220 - $1,000, that's not even keeping up with the CPI since the original law was passed.
•Driving privledges are only lightly restricted, not taken away; a driver can still drive to-and-from work, AND can still drive if its part of their employment. No real punishment there. Take away driving privledges and make 'em walk, use public transit, or (ironically) bicycle to where they want to go.
•Worst of all is any increased costs for enforcement of this law will be bourne by local law enforcement, which means it'll be a low priority; the LEO will only issue a citation unless there's reason to arrest someone (drunk driving, hit-and-run, etc); If I was on foot and punched a cyclist and caused him/her harm, I'd could be charged with the more serious offence of assault and arrested!
Overall this looks like a 'feel-good/do-nothing law' that's the SOP of the California legislature. I can't support it in its current form.