The new rules will increase the number of women and minorities in the academy by 2020 and limiting lifetime voting rights. Personally, I wish they can fast forward this for next year, but hey, you can't fight city hall.
LA Times have the scoop:
The new academy rules are designed to speed up the process of change, as the board passed a series of measures that would remove from its voting rolls members who have not been active in the film industry for many years and establish a precedent requiring active engagement in the industry for new members. The new rules stipulate that:It's a great first step, however, it's a bigger problem within the studios. The changes have to start with the writers, creators and director. The next step is to get these studios together.
• Each new member's voting status will last 10 years and will be renewed if that member has been active in motion pictures during that decade.
• Members will receive lifetime voting rights after three 10-year terms or if they have won or been nominated for an Academy Award.
• Those who do not qualify for active status will be moved to emeritus status, which means they enjoy the privileges of membership, such as access to screenings and events, but cannot vote on the Oscars.