none of this appears to be mentioned in the bill besides the January 1st 2014 deadline. I guess it will all depend on when they can actually get a system for it up and running.
To be honest though, it's just one more firearms thing being registered to the government in your name, and you still will not be allowed to carry any more than 10 rounds in it anyway unless on your own property or at a shooting range. You might be better off not registering, and rather getting new 10 round mags for your firearms, and "getting rid of" your standard mags before the deadline. and better yet, carry extra mags.
They think they're reducing the number of rounds a carrier will have available to them. I carry 15 rounds in my Sig with its factory issued mag, and no spare mags. but if/once this passes, I'll get three 10-round mags. I already have a holser that holds 2 spare mags, I just never use it. But I will, I'll have one 10-rounder in the sig, and 2 more in the holster, totaling 30 rounds. double what I normally carry before this law.
keep in mind that while you do need to perform a background check to sell a magazine to anyone within CT and file paperwork for it and everything, whether it be a private sale or sale to a dealer (according to this bill if it passes); there is NO law in the entire country requiring Anything to sell a magazine to a person in another state outside of CT, so long as they are not banned in that person's state. IE you can sell your mags to someone in New Hampshire, and you do not need any info about them whatsoever, nor do you need any kind of paperwork or anything.
Also keep in mind that the bill states if you don't register your mags, you must get rid of them, strongly recommending you sell them to a dealer, in which there will be gobs of paperwork for, also still tracing you to "weapons of mass destruction", so you lose there too. The only option for not getting your name on a state list of "owners of firearms of mass destruction" is to sell out of state or some other way move the items out of state.
Also, if firearms are lost or stolen within CT, you need to report it within 72 hours (maybe 48 hours with this new bill?). but if you're not possessing them in CT, that may not apply. IE having a boating accident while in international waters. or took a road trip (camping trip) to new Hampshire (gun friendly) and you fell down a mountain in the middle of nowhere and lost your gun/mags deep in the boonies where people may never have even been before and likely wont again for many decades
Or, you can always get a safety deposit box, or small storage bay in another state and keep anything you want in there. then you are legally not possessing any of the items in CT and do not fall under any of the new CT laws.