NRA-ILA is the definitive source on issues like this, so instead of repeating the details, I’ll refer you to the organization’s story. BATFE announced three executive actions in a very short period, including rescinding its previous decision about lawful use of AR-15 pistol braces.
Here’s the latest document from BATFE. Shooters in possession of a huge supply of the ammo will breathe easier on page 15, which states, “Because it is legally permissible to possess armor piercing ammunition under current law, withdrawing the exemption will not place individuals in criminal possession of armor piercing ammunition.”
The same paragraph explains, “However, with few exceptions, manufacturers will be unable to produce such armor piercing ammunition, importers will be unable to import such ammunition, and manufacturers and importers will be prohibited from selling or distributing the ammunition.”
So some of the least-expensive range fodder is going to disappear at a time when people are flocking to ranges and competing. In the few days since the announcement, prices have increased, adding to the financial challenges for an all-new generation of shooters who helped make the AR-15 America’s rifle.
Keep an eye on the NRA/ILA website to stay up to date and comment on the proposed change.