Replacement of Personal Property Pursuant to the Exchange/Sale Authority

Samenvatting

This proposed rule amends regulations issued by GSA for replacement of personal property pursuant to the exchange/sale authority. The exchange/sale authority permits executive agencies when acquiring replacement personal property, to exchange or sell similar items and apply the exchange allowance or proceeds of sale in whole or in part payment for the replacement property acquired. Changes have been made to incorporate plain English principles, streamline the narrative, define key terms, update organizational references, delete outdated regulatory references, delegate authority to executive agencies to approve deviations under certain conditions, and reduce restrictions and limitations on use of the authority.