As I read it, the final revision of the bill states:
In Colorado Revised Statutes, 18-12-302, amend (1)(a) as follows:
18-12-302. Large-capacity magazines prohibited - penalties - exceptions.
(1) (a) Except as otherwise provided in this section, on and after July 1, 2013, a person who sells, transfers, or possesses a large-capacity magazine commits a class 2 CLASS 1 misdemeanor.
The bill amends the language of subsection (1)(a) to eliminate the words "on and after July 1, 2013" and changes the class of Misdemeanor from a Class 2 to a Class 1.
It does not change the language of subsection 2, which states:
(2) (a) A person may possess a large-capacity magazine if he or she:
(I) Owns the large-capacity magazine on July 1, 2013; and
(II) Maintains continuous possession of the large-capacity magazine.
(b) If a person who is alleged to have violated subsection (1) of this section asserts that he or she is permitted to legally possess a large-capacity magazine pursuant to paragraph (a) of this subsection (2), the prosecution has the burden of proof to refute the assertion.
My $0.02. Take it for what you will.