Nonexpendable personal property

Nonexpendable personal property means tangible personal property having a useful life of more than one year and an acquisition cost of more than $300 per unit. A State agency may use its own definition of nonexpendable personal property provided that such definition would at least include all tangible personal property as defined herein.

Source

7 CFR § 277.2


Scoping language

For the purpose of this part the term:

Is this correct? or