There are both state and federal laws for the practice. So this will slightly decrease the situations in which the state/local police can do this. Likely to be compensated for by new state laws. And of course this doesn't stop the Federal law enforcement from doing this. Civil forfiture needs to be abolished period. It boggles my mind, as a layman, that this is considered to satisfy the requirement of "due process" and is therefore constitutional. Sure, there's a process, but it's not the due process.
Police departments may lobby for "agency keeps the proceeds" state laws, but because states usually are constitutionally required to balance their budgets, they are reluctant to move general fund things out to dedicated funds, and if the feds are moving in part due to public outcry over the practice, the same pressure out to be able to be brought on states if they start to consider mirroring the discontinued federal practice.