    [United States Statutes at Large, Volume 132, 115th Congress, 2nd Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    Public Law 115-419
    115th Congress

    An Act

    To 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. 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.''.

    [[Page 5443]]

    (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.''.

    Approved January 3, 2019.

    LEGISLATIVE HISTORY--S. 3031:
    ---------------------------------------------------------------------------

    SENATE REPORTS: No. 115-343 (Comm. on Homeland Security and Governmental
    Affairs).
    CONGRESSIONAL RECORD, Vol. 164 (2018):
    Dec. 12, considered and passed Senate.
    Dec. 21, considered and passed House.