40 U.S.C. § 506 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 506. Inventory controls and systems

(A) Surveys and reports.--Survey and obtain executive agency reports on Federal Government property and property management practices.

(B) Inventory levels.--Cooperate with executive agencies to establish reasonable inventory levels for property stocked by them, and report any excessive inventory levels to Congress and to the Director of the Office of Management and Budget.

(C) Federal supply catalog system.--Establish and maintain a uniform federal supply catalog system that is appropriate to identify and classify personal property under the control of federal agencies.

(D) Standard purchase specifications and standard forms and procedures.--Prescribe standard purchase specifications and standard forms and procedures (except forms and procedures that the Comptroller General prescribes by law) subject to regulations the Administrator for Federal Procurement Policy prescribes under division B (except sections 1704 and 2303) of subtitle I of title 41.

(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.

(A) In general.--The Administrator of General Services shall carry out activities under paragraph (1) with due regard to the requirements of the Department of Defense, as determined by the Secretary of Defense.

(B) Federal supply catalog system.--In establishing and maintaining a uniform federal supply catalog system under paragraph (1)(C), the Administrator of General Services and the Secretary shall coordinate to avoid unnecessary duplication.