The law involves confiscating valuables and money, but it does so much more than that, including, but not limited to, increasing the waiting period for family reunification.
People put it in quotes, because they think it gives them an excuse to use the misnomer, which is bad journalism on their part.
It’s basically in the interest of the administration that people only thought the bill concerned jewelry confiscation, as it distracted from all the other heinous things in the text.
The former bill, which has since become law, is L87 (ie Bill 87).