This is the way I understand the proposed rule change:
Private companies would no longer be able to import military weapons that were once exported from the U.S. such as Garands and M1 carbines. No mention was made of the CMP and I don't know if its charter makes is a private company or not.
The other rule change is that one would no longer be able to register an NFA weapon or device to a trust or corporation. One version floated months ago would eliminate the need for the CLEO sign-off. I think that's usually the reason people go the trust route to begin with.
The whole thing ticks me off though because the administration is saying that these measures will keep guns off the streets and out of the hands of felons. Here's something I wrote earlier.
How many crimes each year are committed with NFA registered weapons or antique militaria? I'll give you a hint. It's nearly zero. The vast majority of gun-related murders are gang and/or drug related and the weapon is a handgun. According to the 2011 FBI uniform crime report, (the last year for which data is available) there were 8583 murders committed with firearms. 679 (less than 8%) involved a shotgun or rifle. Considering that NFA guns and antique military arms make up a tiny fraction of all long guns and they are not the type favored by criminals, they are very rarely used in crimes. These rules will do nothing to reduce crime but will only drive up prices and frustrate lawful gun collectors.
The "military grade" firearms that would be affected by this are obsolete bolt-actions, M1 Garand and M-1 carbine rifles from WWII and Korea. Virtually all military long arms made in the past 50 years are full-auto or select fire and would be illegal under the NFA and 1986 registry rules. Nobody is importing them for civilian sale unless they are already doing it illegally.
The corporation and trust issue is also bogus. It is illegal for a felon to possess a firearm regardless of who it is registered to. People register NFA items using trusts because they aren't required to get approval from the chief of local law enforcement. Some local CLEOs are extremely anti-gun and never sign off on any paperwork. The trust route takes the power out of the hands of one person.
Someone correct me if I'm wrong but doesn't the trust route make it easier to pass an NFA item on to an heir? Does the corporation or trust route mean that the owner of the trust/corporation or corporate officers really don't have to pass a background check as the administration is saying? I always thought they did.
To a much greater extent than most mechanical devices, firearms are terribly unforgiving of any overconfidence, complacency or negligence.