2 CFR 1108.75
§ 1108.75 Capital asset.
United States · 2 CFR — Federal Financial Assistance · Status: effective
Cite this
- Citation
- 2 CFR 1108.75, § 1108.75 Capital asset, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/1386
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Full text
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:
(a) Land, buildings (facilities), equipment, and intellectual property (including software) whether acquired by purchase, construction, manufacture, lease-purchase, exchange, or through capital leases; and
(b) 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).
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.