Property.

CFR · 2024-01-01 · US · Title 7

(a) (b) (2) (ii) When there is no longer a need for the property to accomplish the purpose of the program, the State agency shall use the property where needed in administration of other programs in the following order of priority: (A) Other federally-funded programs of FNS. (B) Other federally-funded programs of USDA. (C) Other federally-funded programs. (iii) When the State agency no longer has need for such property in any of its federally financed activities, the property may be used for the State agency's own official activities in accordance with the following standards: (A) If the property had a total acquisition cost of less than $5,000, the State agency may use the property without reimbursement to FNS. (B) For all such property not covered under paragraph (b)(2)(iii)(A) of this section, the State agency may retain the property for its own use, provided a fair compensation is made to FNS for the FNS share of the property. The amount of compensation shall be computed by applying the percentage of FNS participation in the cost of the property to the current fair market value of the property. (3) (i) If the property had a total acquisition cost of less than $5,000 per unit, the State agency may sell the property and retain the proceeds. (ii) If the property had an acquisition cost of $5,000 or more per unit, the State agency shall: (A) If instructed to ship the property elsewhere, the State agency shall be reimbursed with an amount which is computed by applying the perc

official document · source cfr-2024 · id 7:§ 277.13