If the bill represents a full return to the 2015 rules, it would ban internet providers from blocking or slowing legal content, including through roundabout means like "fast lanes" where customers pay for better performance. The post-repeal FCC allows these restrictions so long as ISPs disclose what they're doing.
The measure faces stiff odds. While the Senate voted for a net neutrality bill in 2018, there's no guarantee it will do the same for its equivalent of the Save the Internet Act. Moreover, that bill only passed by a narrow margin. Unless it received enough votes to override the presidential veto, there's a real chance President Trump would reject the Act. The House move may be more of a symbolic gesture in the current political climate than a realistic attempt at restoring net neutrality.