Rules and Regulations. Notice of GSA Bulletin FMR B-50, Foreign Gift and Decoration Minimal Value
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/register/2020/03/17/2020-05375A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 6210-01-P GENERAL SERVICES ADMINISTRATION [Notice-MA-2020-02; Docket No. 2020-0002; Sequence No. 9] Revision to Foreign Gift Minimal Value AGENCY: Office of Government-wide Policy (OGP), General Services Administration (GSA). ACTION: Notice of GSA Bulletin FMR B-50, Foreign Gift and Decoration Minimal Value. SUMMARY: GSA, in consultation with the U.S. Department of State, must redefine the minimal value of foreign gift items to reflect changes in the Consumer Price Index
(CPI)for the preceding 3-year period, as specified under the law concerning the Receipt and Disposition of Foreign Gifts and Decorations. The minimal value was last defined effective January 1, 2017, and must be redefined effective as of January 1, 2020. This bulletin cancels FMR Bulletin B-41, “Foreign Gift and Decoration Minimal Value,” issued January 12, 2017, as this bulletin provides updated information on the same topic. DATES: *Applicability Date:* January 1, 2020. This notice applies to foreign gifts and decorations received on or after January 1, 2020. FOR FURTHER INFORMATION CONTACT: For clarification of content, contact Mr. William Garrett, Director, Personal Property Policy, Office of Government-wide Policy, Office of Asset and Transportation Management, at 202-368-8163, or by email at *william.garrett@gsa.gov.* Please cite Notice of GSA Bulletin FMR B-50. SUPPLEMENTARY INFORMATION: Background Foreign gifts and decorations above the GSA-defined minimal value are handled differently than lesser-valued foreign gifts and decorations under the provisions of 5 U.S.C. 7342 and FMR § 102-42. Foreign gifts and decorations above the minimal value become the property of the Federal Government and must be reported to GSA for disposal if not immediately needed by the agency for official purposes. Additionally, those items initially retained by the agencies for official use are reported to GSA upon termination of official use. The foreign gifts and decorations minimal value was last redefined effective January 1, 2017, at $390, and therefore, must be redefined as of January 1, 2020, to reflect the CPI increase of 6.35 percent for the preceding three years. Pursuant to FMR § 102-42.10, the approved revised minimal value will be published in an FMR Bulletin posted on OGP's website ( *www.gsa.gov/personalpropertypolicy* ). Calculations using the consumer prices over the past three years show that the minimal value must increase 6.35 percent from its current $390, which yields an amount of $414.77. As in previous years, GSA is rounding the amount to the nearest five dollar increments. Therefore, GSA is adjusting the new minimal value to $415.00. Per FMR § 102-42.10, an agency may, by regulation, specify a lower value than this Government-wide value for its agency employees. Jessica Salmoiraghi, Associate Administrator, Office of Government-wide Policy. [FR Doc. 2020-05375 Filed 3-16-20; 8:45 am]
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Notice of GSA Bulletin FMR B-50, Foreign Gift and Decoration Minimal Value
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