§1108.75. Capital asset.
2 C.F.R. § 1108.75
Capital asset means a tangible or intangible asset used in operations having a useful life of more than one year which is capitalized in accordance with GAAP. Capital assets include:
Land, buildings (facilities), equipment, and intellectual property (including software) whether acquired by purchase, construction, manufacture, lease-purchase, exchange, or through capital leases; and
Additions, improvements, modifications, replacements, rearrangements, reinstallations, renovations or alterations to capital assets that materially increase their value or useful life (not ordinary repairs and maintenance).
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301 and 10 U.S.C. 113.
Source
Source: 85 FR 51230, Aug. 19, 2020, unless otherwise noted.