1. (a) "Equipment" is defined as an article of non-expendable, tangible personal property having a useful life of more than one (1) year and a per unit acquisition cost which equals the lesser of:

   1. (1) the capitalization level established by the grantee for financial statement purposes: or
   2. (2) $5,000.
2. (b) A grantee may use equipment paid for with OAG funds only for grant-related purposes and not for personal or non-grant-related purposes.
3. (c) Grant funds may not be used to purchase or lease vehicles.

Source Note:The provisions of this §62.305 adopted to be effective April 15, 2007, 32 TexReg 1997.