Texas § GV.403.271 - PROPERTY ACCOUNTING SYSTEM
Full text of Texas The Texas Constitution § GV.403.271 — PROPERTY ACCOUNTING SYSTEM, with citation guidance and answers to common questions.
§ GV.403.271. PROPERTY ACCOUNTING SYSTEM
PROPERTY ACCOUNTING SYSTEM. (a) This subchapter applies to: (1) all personal property belonging to the state; and (2) real and personal property acquired by or otherwise under the jurisdiction of the state under 40 U.S.C. Section 483c, 484(j), or 484(k), and Subchapter G , Chapter 2175 . (b) The comptroller shall administer the property accounting system and maintain centralized records based on information supplied by state agencies and the uniform statewide accounting system. The comptroller shall adopt necessary rules for the implementation of the property accounting system, including setting the dollar value amount for capital assets and authorizing exemptions from reporting. (c) The property accounting system shall constitute, to the extent possible, the fixed asset component of the uniform statewide accounting system. (d) The comptroller may authorize a state agency to keep property accounting records at the agency's principal office if the agency maintains complete, accurate, and detailed records. When the comptroller makes such a finding, it shall keep summary records of the property held by that agency. The agency shall maintain detailed records in the manner prescribed by the comptroller and shall furnish reports at the time and in the form directed by the comptroller. (e) A state agency shall mark and identify state property in its possession. The agency shall follow the rules issued by the comptroller in marking state property. Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 8,
Frequently Asked Questions About Texas § GV.403.271
What does The Texas Constitution § GV.403.271 cover?
Section GV.403.271 ("PROPERTY ACCOUNTING SYSTEM") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.403.271?
A common citation format is "The Texas Constitution § GV.403.271" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.403.271 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.