S649, "The Public Safety And Second Amendment Rights Protection Act"

Here is the text to the compromise bill:
Posted: Full Text of 'The Public Safety And Second Amendment Rights Protection Act' | The Weekly Standard

Purpose: To protect Second Amendment rights, ensure that all individuals who should be prohibited from buying a firearm are listed in the National Instant Criminal Background Check System, and provide a responsible and consistent background check process.

OK...

AMENDMENT INTENDED TO BE PROPOSED BY MR. MANCHIN (for himself, Mr. TOOMEY, Mr. KIRK, and Mr. SCHUMER)

Inspires all kinds of confidence...

All kinds of stuff to like in there.  New York and New Jersey won't like the reinforcement of FOPA, including affirmation that staying overnight is legal.

As for "private sales"...

Section 122, FIREARMS TRANSFERS
It affirms your right to "transfer" a gun to a relative (t) (2) (C):

...the transfer is made between spouses, between parents or spouses of parents and their children or spouses of their children, between siblings or spouses of siblings, or between grandparents or spouses of grandparents and their grandchildren or spouses of their grandchildren, or between aunts or uncles or their spouses and their nieces or nephews or their spouses, or between first cousins, if the transferor does not know or have reasonable cause to believe that the transferee is prohibited from receiving or possessing a firearm under Federal, State, or local law

Otherwise, private transfers are legal if

"(B) the transfer is made between an unlicensed transferor and an unlicensed transferee residing in the same State, which takes place in such State, if-
"(i) the Attorney General certifies that State in which the transfer takes place has in effect requirements under law that are generally equivalent to the requirements of this section; and
"(ii) the transfer was conducted in compliance with the laws of the State;

Subparagraph (i) is a killer.