Title: Federal Personal Property Management Act of 2018
Policy area: Government Operations and Politics

Summary:
Federal Personal Property Management Act of 2018
This bill requires the executive agencies and the General Services Administration (GSA) to carry out the following activities with respect to federal personal property management.
Each executive agency, in accordance with guidance from the GSA, must annually inventory and assess capitalized personal property in identifying excess property under the agency's control. Capitalized personal property items include those recorded on an agency's general ledger records as major investments or assets.
Each agency must also regularly inventory and assess accountable personal property under its control.
GSA may establish separate thresholds for acquisitions of personal property for which affected agencies shall capitalize and for which they shall establish and maintain property records in a centralized system.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 3031 Introduced in Senate (IS)]

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115th CONGRESS
  2d Session
                                S. 3031

  To amend chapter 5 of title 40, United States Code, to improve the 
                management of Federal personal property.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              June 7, 2018

    Mr. Peters (for himself, Mr. Paul, Mr. Jones, and Mr. Lankford) 
introduced the following bill; which was read twice and referred to the 
        Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
  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.''.
    (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.''.
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