S.3031 - Federal Personal Property Management Act of 2018115th Congress (2017-2018)
|Sponsor:||Sen. Peters, Gary C. [D-MI] (Introduced 06/07/2018)|
|Committees:||Senate - Homeland Security and Governmental Affairs|
|Committee Reports:||S. Rept. 115-343|
|Latest Action:||01/03/2019 Became Public Law No: 115-419. (TXT | PDF) (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.3031 — 115th Congress (2017-2018)All Information (Except Text)
Public Law No: 115-419 (01/03/2019)
Federal Personal Property Management Act of 2018
(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.
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.