The educational establishment has long had a tendency to imagine that currency is an important attribute.  The difference that Science and Engineering illustrate is one of enduring knowledge,  It may be true that in relatively narrow ways one's knowledge needs to be updated, but for the most part the competencies represented by the Professional Engineer are application of principles which do not go in and out of fashion.

This is just a expensive and useless overload on a group that has already by the fact of their taking the licensing approach in the first place are among the most capable.  Most engineers practice without the P.E. credential so this kind of legislation will only shrink the base and in no way enhance the profession.