Sec. 403.272. RESPONSIBILITY FOR PROPERTY ACCOUNTING. (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.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 8, Sec. 2.30. Amended by Acts 2003, 78th Leg., ch. 785, Sec. 12, eff. Sept. 1, 2003.
Structure Texas Statutes
Subtitle A - Executive Officers
Chapter 403 - Comptroller of Public Accounts
Subchapter L. Property Accounting
Section 403.271. Property Accounting System
Section 403.2715. University Systems and Institutions of Higher Education
Section 403.272. Responsibility for Property Accounting
Section 403.273. Property Manager; Property Inventory
Section 403.274. Change of Agency Head or Property Manager
Section 403.275. Liability for Property Loss
Section 403.276. Reporting to Comptroller and Attorney General