Federal Personal Property Management Act of 2018 Public Law 115–419 Federal Personal Property Management Act of 2018 419 115–419 Statute Compilation United States House of Representatives Office of the Legislative Counsel text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. GPO Statute Compilations USLM converter, version 20210527.1 2021-10-15 Federal Personal Property Management Act of 2018 15226 115 2019-01-03 Federal Personal Property Management Act of 2018 [(Public Law 115–419)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 115–419. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo amend chapter 5 of title 40, United States Code, to improve the management of Federal personal property.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. [40 U.S.C. 101 note] SHORT TITLE. This Act may be cited as the “Federal Personal Property Management Act of 2018”.
SEC. 2. 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.” .