I may be going out on a limb here but I'm interested in testing this argument out. My claim is that discrimination against the LGBT community is not religious but rather that is cloaked in the language of religion. Obviously, it's hard to make a distinction between religious norms and social norms but I'd argue that social norms drive religious rhetoric against the LGBT community. There is no Christian consensus on the LGBT community. Mainline Protestants tend to tacitly endorse the rights of the LBGT community, Catholics are silently against the LGBT community and Evangelical Christians are loud activists. With that in mind, I cannot comprehend the claim that "forcing" businesses to engage in commercial transactions is religious discrimination. There is no theological "line in the sand" on this issue. We are not forcing Islamic vendors to serve pork or to abstain from serving halal meats. However, there is a social "line in the sand" on this issue, in which the elderly oppose gay rights not because of their religious affiliation but rather because of the social context in which they grew up.
In short: this bill gives bigots the ability to discriminate by allowing them to reference their "religion", which is a terrible idea because of the diversity contained within various theological doctrines. Frankly, some Christian theology is incompatible with liberal democracy.