Well it's not a surprise anyway. Initial indications are that it was written by Bloomberg.
Basically they want to register guns.
Almost everything you do with a gun and another person is a TRANSFER.
Most Transfers are illegal.
The transfers that aren't are subject to a FEE - No language of what that fee will be. Which means they can make it want ever amount they figure will make it impossible for anyone to stay in business selling guns.
Oh and don't leave home for more than 7 days - or you might be put in jail for 5 years for engaging in an illegal transfer to a family member, or room mate.
I strongly suggest you write to your congress critters and tell them if they don't vote no - you will make it your person mission to support ANYONE running against them in the next election.