No, it's not. The AR-15 is specifically named in the law as banned. Any US made rifle with 2 or more of the "bad" items, and able to accept a > 10 round removable magazine is banned. That's why no flash suppressors, bayonet lugs and so forth. All to save the pistol grip. That probalby means that if the law is renewed, semi-automatic long guns with pistol grips will be banned, as they already are in California. So there goes your AR-15 clone, including the .308 variants (AR-10, SR-25, etc) unless you want it with one of those butt ugly and not really functional "California" grips. In fact I think the government there, who get to decide what consitutes a "pistol grip", failed to approve them anyway. I have a friend who sold all his AR clones and he had a couple of dozen, because he said he never knew when the AG would declare on of them banned, and he'd lose not only his RKBA in California, but nationwide as well, not to mention the security clearance the loss of which would severly restrict his consulting pratice, if not end it entirely.
Oops, after looking at the law, it's ANY removeable magazine that triggers the "two other evil features" test, the >10 round magazine is a separate deal, although passed as part of the same "crime control" bill. In practice that means you get the pistol grip and none of the other stuff. Without the pistol grip, the ergonomics of most of the guns under consideration are destroyed or severly degraded, most especiallly the AR series.