That's the premise they are marketing it under, but there are so many things contained in it that make it open to huge misuse.
For instance...if someone appropriates one of your images (from wherever) and removes your exif and/or iptc data and copyright, then posts it somewhere else (on a blog, on a photosharing site, whatever) and someone else takes it from that blog, and posts it elsewhere (an on and on it goes without any information on where it came from)...then, perhaps the last person to use it gets caught using it...they don't know where it came from because there's no info - and even at that, lets just say they did search a couple of registries for it, but didn't find it (because you didn't happen to register it at those particular registries) - there's no backlash for that person and from what it looks like (and everything I've read and listened to) no cause for you sue - even if they happened to have been selling that image. Sure, you can prove it's yours, but can you sue them? Unlikely, and even if you could, they also want to limit the damages to some minimal amount.
It also will require you have your images registered at multiple registries, which will be private companies, not the government registry.
It really takes more than a casual read through the propropsed bill, and there are some scary interviews you can listen to...listening to those is really what tuned me in to what actually could happen, even if the bill isn't mean that way.
Audio Interview
Lots of links in the forum below for anyone whose really interested.
Team Zazzle on the Orphanded Works Act? - Feedback and Suggestions - Zazzle Forum