The Library of Congress just released its initial plan for the Bibliographic Framework Transition Initiative. It’s asking the library community to provide feedback on the plan.
The group’s task is primarily concerned with finding alternatives to the MARC format:
The Working Group of the Future of Bibliographic Control, as it examined technology for the future, wrote that the Library community’s data carrier, MARC, is “based on forty-year-old techniques for data management and is out of step with programming styles of today.”  The Working Group called for a format that will “accommodate and distinguish expert-, automated-, and self-generated metadata, including annotations (reviews, comments, and usage data.”  The Working Group agreed that MARC has served the library community well in the pre-Web environment, but something new is now needed to implement the recommendations made in the Working Group’s seminal report.
The good news is that the plan is relatively short (just a couple of pages) and is mostly comprehensible English.
Bibliographic Framework Transition Initiative Website: http://www.loc.gov/marc/transition/
Bibliographic Framework Transition Initiative Listserv: http://listserv.loc.gov/listarch/bibframe.html
Working Group on the Future of Bibliographic Control Website: http://www.loc.gov/bibliographic-future/