It's not really a new law any more it's been in a effect since Feb 10th 2009. The best place to start to find out what local or state laws you must first follow for your business and the products you make is your municipality's clerks office or your county's business registration office. If they don't have the information on hand they can usually direct to what office or website does. Also try to contact your local SBA, SCORE, or artist guild for additional guidance or a list of low cost to free legal professionals. They maybe able to help you understand how to mesh all the different laws and regulations that could effect what you want to make and sell.
Read the below links to start understanding the federal laws and regulations that also need to be followed. Once you've done that check directly with the CPSC's Small Business Ombudsman at
http://www.cpsc.gov/businfo/smbus.html with your questions. That office should be able to inform you about matters directly related to the CPSC and CPSIA concerning your products specifically plus direct you to any other USA federal agencies that maybe involved with the types of products you choose to sell to US customers. Because your selling on an interstate/international e-commerce site your products are also subject to all US federal laws and regulations from various agencies like the FTC, the CPSC, and the CPSIA when you sell to a customer who is located in the USA.
Here's some reading to get you started on understanding the CPSIA. (the ones with * are most important to read first)
* For the current full list of raw materials offically exempt from lead testing please read
http://www.cpsc.gov/businfo/frnotices/fr09/leaddeterminationsfinalrule-draft.pdf* CPSIA guidance for small businesses/crafters includes a quick look guide Table : B exempt raw material list
http://www.cpsc.gov/about/cpsia/smbus/cpsiasbguide.pdf* An update on the stay of 3rd party testing
http://www.cpsc.gov/cpscpub/prerel/prhtml10/10083.html* Tracking labels
http://www.cpsc.gov/about/cpsia/sect103policy.pdfCPSIA's FAQ page
http://www.cpsc.gov/about/cpsia/sect103.html#103q8 Webcasts for the 2 day public workshops in Dec 2009
http://www.cpsc.gov/about/cpsia/cpsiatesting.htmlThe CPSC's age determination guideline
http://www.cpsc.gov/BUSINFO/adg.pdfA timeline from the CPSIA
http://www.cpsc.gov/about/cpsia/rulemaking.pdfInformation on how this law is retro-active
http://www.cpsc.gov/library/foia/advisory/317.pdfStandard Operating Procedure for Determining Lead (Pb) in Surface Coatings,
http://www.cpsc.gov/about/cpsia/CPSC-CH-E1003-09.pdfStandard Operating Procedure for Determining Total Lead (Pb) in Children’s Metal Products (Including Children’s Metal Jewelry) found at
http://www.cpsc.gov/about/cpsia/CPSC-CH-E1001-08.pdfEven non-metal components must be tested using destructive digestive testing read more here
http://www.cpsc.gov/about/cpsia/CPSC-CH-E1002-08.pdf The CPSC also has product specific laws, regulations and standards that must be followed about the way some things must be constructed in addition CPSIA which concerns mostly what components go into the making of a product. Like sleepwear must be flame retardant or form fitting, length of the ties for bibs & smocks, the sizes for blankets to be considered a recieving blanket, and many other things. Do a search using specific product names at the main CPSC website
http://www.cpsc.gov/The CPSIA main website
http://www.cpsc.gov/about/cpsia/cpsia.htmlSmall Parts Regulations Summary
http://www.cpsc.gov/BUSINFO/regsumsmallparts.pdf Small Parts labeling
http://www.cpsc.gov/BUSINFO/label.pdf Maybe some one else has a link to a plain english version of the small parts regulations, but these 2 links are the best I have.
Here's info about small parts warnings and how they should appear in your listings / ads
http://www.cpsc.gov/LIBRARY/FOIA/FOIA08/brief/toygameads.pdf page 19 of the PDF has the abbreviations & page 20 of the PDF has the warning examples are in black-n-white but I believe they need to be in certain colors on the actual label for the physical product.
For some product there is dual jurisdiction under another federal agency, like FTC for products made of fibers or fabric there are regulations regarding care & content labels and yet another type of labeling maybe required for fabric based toys.
The main FTC website
http://www.ftc.gov/index.shtmlFor fabric and fiber items
FTC Labeling requirements
http://www.ftc.gov/bcp/edu/pubs/business/textile/bus50.shtm Examples of FTC labels (about 3/4 of the way down the page)
http://www.ftc.gov/bcp/edu/pubs/business/textile/bus21.shtm