On January 4th, President Obama signed the Reduction of Lead in Drinking Water Act (Senate Bill S.3874). This bill will require the reduction of lead content in faucets, fittings and valves from the current limit of 8% to a reduced level of 0.25%. The new law will go into effect on January 4th, 2014.
Senate Bill S.3874 only addresses the lead content of the covered plumbing products. Starting in July, 2012 the new NSF 61F standard will take effect, which will limit lead leachate to 5 parts per billion, down from the current 15 parts per billion.
For a more in depth writeup on the changes to NSF-61 certification, see this article at Supply House Times [Clarifying The New Low Lead Legislation]