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NASA Rule Implements FAR Government Property Provisions

The National Aeronautics and Space Administration has issued a final rule revising the NASA Federal Acquisition Regulation Supplement. The rule updates agency-level, property-related provisions, clauses, prescriptions, and procedures to be consistent with changes made to FAR Part 45 and FAR Part 52 by Federal Acquisition Circular 2005-17. FAC 2005-17 significantly rewrote FAR Part 45, Government Property, and changed property-related definitions, provisions, and clauses that are required in all solicitations and contracts issued after June 14, 2007. This final rule rewrites NFS Part 1845, Government Property, and related solicitation provisions and contract clauses in NFS Subpart 1852.245. To comply with Statement of Federal Financial Accounting Standard No. 6, the rule includes procedures, solicitation provisions, and contract clause language necessary to identify contractor-acquired assets that become capital assets of the government. NASA made changes to the proposed version of the rule (70,048.56) after considering 52 comments from 3 respondents. A full listing of the NFS provisions affected by the rule appears in the regulation table below. The effective date of the final rule is January 12, 2011. For the text of the rule, see 70,047.200.




(The news featured above is a selection from the news covered in the Government Contracts Report Letter, which is published weekly and distributed to subscribers of the Government Contracts Reporter. )


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