Bans the manufacture, importation, and transfer of all magazines with a capacity greater than 10 cartridges. This includes whole firearms with internal magazines, such as the 1850s "Henry Repeating Rifle."

An exemption is made for tube-fed .22 caliber rimfire arms. The bill additionally bans any magazine that can be "readily restored or converted" to accept more rounds. "Readily" is not defined.

Violations are punishable by 10 years in prison, with an affirmative defense that the magazine was legally owned prior to the ban. Grandfathered magazines and firearms cannot be transfered, and there is no exception for inheritance--items are presumably forfeited upon the death of the current owner.