I'm guessing that since its just a regulation, there won't be jail time imposed.
I don't put much, if any, stock in guesses.
It was done to confiscate the items.
That is not the sole purpose of the new regulations, but I'm not going to get into any sort of drawn out debate or explanation about it. Any elephant ivory or ivory products coming into the country after July 6
will most likely be confiscated. But no one's gonna come around to your door and take your gun grips or grandma's piano or whatever. But if you're scared they will, then take the grips off the guns and hide 'em or something.
On the other hand, if you try to engage in interstate commerce of ivory products after July 6, pre-ban or not, you're probably gonna be in trouble if you're caught.
One very well known grip maker in Arizona has advised his customers that after July 6, he will only be able to sell his ivory grips to documented Arizona residents. That means you'll have to show proof of residency before he'll sell you a pair of his beautifully made ivory grips. He's also advised his customers that once his current stock of pre-ban ivory is gone, that's it, he won't be able to buy any more. The implication is that decorating guns with material from dead elephants isn't worth hefty fines or jail time or the possible loss of a thriving business. I don't blame him.
Like it or not, the days of using elephant ivory for gun grips, grip inlays, or rifle/shotgun stock inlays will be coming to an end in the future. Ditto for knife handles, gun tool handles, and other miscellaneous accessories.
I guess when that end will get here will depend on how long existing legal pre-ban supplies last.