US SB1370

Prohibits the import, sale, manufacture, transfer, or possession of gas-operated semi-automatic firearms as defined by the ATF, with exceptions for firearms lawfully owned before enactment, government agencies, and transfers to immediate family members through licensed dealers

Bans large capacity ammunition feeding devices holding more than 10 rounds, with exemptions for .22 caliber rimfire devices and those manufactured before enactment (existing owners may keep but not transfer them)

Exempts numerous firearm types including bolt-action, lever-action, pump-action rifles and shotguns; revolvers; semi-automatic handguns using recoil operation with permanently fixed magazines of 15 rounds or less; and .22 rimfire firearms without separate upper/lower receivers

Establishes penalties of up to $5,000 and 12 months imprisonment per offense, with enhanced penalties of 2-10 years plus fines up to $250,000 for committing federal crimes while possessing prohibited firearms

Requires ATF to publish a list of prohibited firearms within 180 days, creates an approval process for new semi-automatic firearm designs, establishes a Firearm Safety Trust Fund, and authorizes Byrne Grant funding for state/local buy-back programs