I said it isn’t law yet. And the article states that the law is forthcoming, and that Google does not intend to follow the forthcoming law.

It’s set to become mandatory, i.e. law. According to the article.

And this isn’t a free speech issue. It’s about disinformation. Folks can say what they want, but a political ad needs to clearly be a political ad. And disinformation can’t be profit motivated.

It’s all in the article you just linked. You can say what ever you want, but if it’s bullshit, Google will need to flag it or face fines.