EXEMPT PROPERTY

{
  "id": "MLC-T-ENV-010298",
  "term": "EXEMPT PROPERTY",
  "field": "Environment",
  "definition": "Tangible personal property acquired in whole or in part with Federal funds, where the Federal awarding agency has statutory authority to vest title in the recipient without further obligation to the Federal Government. An example of exempt property authority is contained in The Federal Grant and Cooperative Agreement Act (31 U.S.C. 6306) for property acquired under an award to conduct basic or applied research by a non profit institution of higher education or non profit organization whose principal purpose is conducting scientific research. (40 CFR Part 30)",
  "subject": "Laws, regulations and executive orders",
  "references": [
    "Grants and Debarment Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/exempt-property/"
}