Texas Government Code 403.272 – Responsibility for Property Accounting
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(a) A state agency must comply with this subchapter and maintain the property records required.
(b) All personal property owned by the state shall be accounted for by the agency that possesses the property. The comptroller shall define personal property by rule for the purposes of this subchapter. In adopting rules, the comptroller shall consider the value of the property, its expected useful life, and the cost of recordkeeping.
Terms Used In Texas Government Code 403.272
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005