According to the article, the ban is for any ammo that can pierce soft body armor and be found in a handgun platform.
Technically, most shotgun slug ammo is armor piercing, but so far there isn’t a shotgun handgun available (only class 3 shorties) or all slug ammo could be banned under this rule.
Most high velocity rifle calibers are armor piercing even without the steel core (green tip). This would include 30.06 and .30-.30 as well as most high velocity .223, .308, .338 lupua, .50 caliber, etc. Only hard plate body armor can stop these type of rounds and the rule is specific to soft body armor.
It is important to note that only projectiles that meet the statutory definition of “armor piercing” – i.e., those made out of the specific listed materials that may be used in a handgun – are subject to the statutory restrictions. As a result, manufacturers are, and will continue to be, free to manufacture projectiles from non-restricted materials, completely independent of the application of this framework or any exemptions.