According to the National Shooting Sports Foundation’s Bullet Points for November 18th, a coalition of groups has requested that Attorney General Eric Holder apply the “‘sporting purposes’ exemption to the definition of armor piercing ammunition set forth in the Gun Control Act of 1968 (GCA).”
The letter accuses ATF of sitting on petitions from ammunition manufacturers for exemptions for ammo made from materials such as brass and copper. While these materials fail the composition test set forth by the Gun Control Act of 1968, the law does provide an exemption for products clearly intended for sporting purposes. Long range target shooting and hunting would both clearly be sporting purposes.
The letter from these groups (seen below) makes a good case for why such ammo should be granted an exemption. That said, I don’t think there is a chance in hell of Eric Holder pushing ATF to act on these petitions. Not only is Holder anti-gun, he tries to portray himself as pro-cop which would cause him to rule out any ammo that could be considered “armor piercing”. It is a sham but it is what it is.