Federal Personal Property Management Act of 2018

Bill: 115-s-3031
Sponsor: full_name: Sen. Peters, Gary C. [D-MI]
Introduced: 2018-06-07
Policy area: Government Operations and Politics
Subjects: Accounting and auditing

Government buildings, facilities, and property

Government information and archives

Government studies and investigations

Public contracts and procurement
Latest action: action_date: 2019-01-03
text: Became Public Law No: 115-419.

Summaries:
action_date: 2018-06-07
action_desc: Introduced in Senate
text: <p><b>Federal Personal Property Management Act of 2018</b></p> <p>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. </p> <p>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.</p> <p>Each agency must also regularly inventory and assess accountable personal property under its control. </p> <p> 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. </p>

action_date: 2019-01-03
action_desc: Public Law
text: <p><b>Federal Personal Property Management Act of 2018</b></p> <p>(Sec. 2 ) 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. </p> <p>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.</p> <p>Each agency must also regularly inventory and assess accountable personal property under its control. </p> <p> 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. </p>

tv_txt: II 115th CONGRESS 2d Session S. 3031 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.

1. Short title This Act may be cited as the Federal Personal Property Management Act of 2018 . 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. .

tv_txt: II Calendar No. 621 115th CONGRESS 2d Session S. 3031 [Report No. 115–343] IN THE SENATE OF THE UNITED STATES June 7, 2018 Mr. Peters (for himself, Mr. Paul , Mr. Jones , Mr. Lankford , Ms. Cortez Masto , and Mr. Kennedy ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs October 4, 2018 Reported by Mr. Johnson , without amendment A BILL To amend chapter 5 of title 40, United States Code, to improve the management of Federal personal property.

1. Short title This Act may be cited as the Federal Personal Property Management Act of 2018 . 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. .

October 4, 2018 Reported without amendment

tv_txt: One Hundred Fifteenth Congress of the United States of America 2d Session Begun and held at the City of Washington on Wednesday, the third day of January, two thousand and eighteen S. 3031 IN THE SENATE OF THE UNITED STATES AN ACT To amend chapter 5 of title 40, United States Code, to improve the management of Federal personal property.

1. Short title This Act may be cited as the Federal Personal Property Management Act of 2018 . 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. .

Speaker of the House of Representatives Vice President of the United States and President of the Senate

tv_txt: 115th CONGRESS 2d Session S. 3031 IN THE SENATE OF THE UNITED STATES AN ACT To amend chapter 5 of title 40, United States Code, to improve the management of Federal personal property.

1. Short title This Act may be cited as the Federal Personal Property Management Act of 2018 . 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. .

Passed the Senate December 12, 2018. Secretary