Calif. proposal to ban new semi-automatic rifles with detachable magazines & ammo bac

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Anyone worried about this new law they are trying to pass?

The package includes:
Banning the possession — not just manufacture and sale — of magazines holding more than 10 rounds.
Making possession of hollow point bullets and similar “assault bullets” a felony.
Requiring anyone wishing to buy ammunition to first get a permit by passing a background check.
Requiring the registration and reporting of all ammo purchases. Limits the number of rounds anyone can have at one time to 500 rounds.
Requiring all gun owners will have to be licensed like drivers, and will be forced to carry gun liability insurance.
Banning any gun that has a detachable magazine, and requires a 100% prohibition of all fixed magazines greater than 10 rounds.
Making all previous grandfathered magazines become illegal, and it will become a felony if you keep one.
Prohibiting anyone barred from owning a weapon from living in a home where weapons are kept
Expanding the list of crimes that would bar a person from gun possession.
Letting the state Justice Department use money from the state’s Dealer’s Record of Sale system to eliminate the backlog of people identified as no longer allowed to own guns but not yet investigated and contacted by law enforcement.