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Pcb-rnd started as a fork of gEDA/PCB thus inherited its GPL2+ license. See file trunk/COPYING for more details on the license terms. Pcb-rnd incorporates a few mini-libs with various, GPL-compatible licenses, mostly BSD, MIT and public domain - the official Debian package has a great index of these.
For users: the resulting software is distributable under the GNU GPL version 2 (or later versions), the usual GPL terms and conditions apply.
Contribution: by contributing, you agree to submit patches that are conforming to the license terms (e.g. don't copy random code from other projects). We are keeping track of copyright: each contributor holds the copyright for and is responsible for their part. Contributors agree to license their contribution under the same term as the subproject they are adding to, which is typically GPL2+ for core and plugins and utilities.
Re-licensing under different conditions: pcb-rnd's GPL2+ allows the user to upgrade to GPL3 or later versions of the GPL (as long as new versions don't contradict with the license of the mini-libs). It is not possible to change pcb-rnd's license to anything else unless all past developers agree (but there's not even a index of all the names!). It is possible to request relicensing of the files that are brand new in pcb-rnd (they are all marked in the copyright banner on the top of the file) - this requires the agreement of all copyright holders listed in the file, and wouldn't affect other files. Same rules apply for mini-libs.