The magazine ban was introduced today.
There are a couple schools of thought:
"I have my magazines, I'm good.": No, you're not. How they will enforce this absurd legislation has yet to be determined. If their other bills are any indication, a registry is coming. They'll have you sign up your magazines in a registry, which a local law enforcement entity will be allowed to approve or deny. If they deny you have to turn your magazines in. You can't transfer them. There is some control regulations to follow if this bill passes. The police will need to know if you bought your magazines legally or not. Accordingly, you'll need to prove that you did this. These will likely come fromt he ATF.
"I bought a crap load of magazines and if they're banned they'll be worth a fortune.": Again, no they won't. The law says that you cannot transfer high capacity magazines. It will be illegal to sell these magazines. The punishment for violating this statute is up to 10 years in prison. Further, when the ATF trys to enforce this law they will come up with some painful rules that require you to fill out forms and file reports. If you own a pile of magazines it is in your interest to fight this bill.
"The Supreme Court will strike this down, so it doesn't matter.": This is the most tenuous argument of all. At best there are 2-3 votes on the Court in favor of individual liberty. Roberts and Kennedy may fall anywhere on this. But it is worth noting that when they enforce this law there will be many, many, many magazines turned in. The Supreme Court case could take 5 years. Your magazines will be turned into iPods by then.
I joined RMGO yesterday and GOA today.
Please write, call, and petition. Get a letter to the head of the House Judiciary. He has already said that he "doesn't like the idea of gun control." That doesn't mean that he won't let this bill out of committee.