[Code of Federal Regulations]

[Title 34, Volume 1]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR74.33]



[Page 115-116]

 

                           TITLE 34--EDUCATION

 

PART 74_ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF 

HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table 

of Contents

 

                    Subpart C_Post-Award Requirements

 

Sec.  74.33  Federally-owned and exempt property.



    (a) Federally-owned property. (1) Title to federally-owned property 

remains vested in the Federal Government. Recipients shall submit 

annually an inventory listing of federally-owned property in their 

custody to the Secretary. Upon completion of the award or when the 

property is no longer needed, the recipient shall report the property to 

the Secretary for further ED utilization.

    (2) If ED has no further need for the property, it shall be declared 

excess and reported to the General Services



[[Page 116]]



Administration, unless the Secretary has statutory authority to dispose 

of the property by alternative methods (e.g., the authority provided by 

the Federal Technology Transfer Act (15 U.S.C. 3710 (I)) to donate 

research equipment to educational and non-profit organizations in 

accordance with E.O. 12821--Improving Mathematics and Science Education 

in Support of the National Education Goals. Appropriate instructions 

shall be issued to the recipient by the Secretary.

    (b) Exempt property. When statutory authority exists, the Secretary 

may vest title to property acquired with Federal funds in the recipient 

without further obligation to the Federal Government and under 

conditions the Secretary considers appropriate. This property is 

``exempt property.'' Should the Secretary not establish conditions, 

title to exempt property upon acquisition vests in the recipient without 

further obligation to the Federal Government.



(Authority: 20 U.S.C. 1221e-3, 3474; OMB Circular A-110)