As you probably know, pursuant to federal law, there are certain mandatory minimum sentences which apply to crack and powder cocaine. The threshholds for crack cocaine are 5 grams and 50 grams. For powder its 500 grams and 5 kilos. Its my understanding that the Fair Sentencing Act would result in a equalizing the mandatory minimum for crack cocaine, so that it would be comparable to powder cocaine. . My understanding is the bill would eliminate any difference in sentencing guidelines as well, but I am not certain.
While mandatory minimums are generally mandatory (with the exception of safety valve or cooperation), the sentencing guidelines are considered advisory.
There is a senate bill and a house bill and there are some differences.
Families Against Mandatory Minimums might be the best source of information. Link below.