Federal personal property management

(a)

Inventory assessing and identifying excess personal property

Section 524(a) of title 40, United States Code, is amended— (1)in paragraph (11), by striking and at the end; (2)in paragraph (12), by striking the period at the end and inserting ; and; and (3)by adding at the end the following:

(13)in accordance with guidance from the Administrator of General Services— (A)on an annual basis, conduct an inventory and assessment of capitalized personal property to identify excess capitalized personal property under its control, including evaluating— (i)the age and condition of the personal property; (ii)the extent to which the executive agency utilizes the personal property; (iii)the extent to which the mission of the executive agency is dependent on the personal property; and (iv)any other aspect of the personal property that the Administrator determines is useful or necessary for the executive agency to evaluate; and (B)on a regular basis, conduct an inventory and assessment of accountable personal property under its control, including evaluating— (i)the age and condition of the personal property; (ii)the extent to which the executive agency utilizes the personal property; (iii)the extent to which the mission of the executive agency is dependent on the personal property; and (iv)any other aspect of the personal property that the Administrator determines is useful or necessary for the executive agency to evaluate.

(b)

Thresholds for capitalization and accountability

Section 506(a)(1) of title 40, United States Code, is amended by adding at the end the following:

(E)

Capitalization thresholds

Establish thresholds for acquisitions of personal property for which executive agencies shall capitalize the personal property. (F)

Accountability thresholds

Notwithstanding section 121(b), for the management and accountability of personal property, establish thresholds for acquisitions of personal property for which executive agencies shall establish and maintain property records in a centralized system.