§ 101-43.001-28 - Salvage.

Salvage means personal property having value greater than its basic material content but which is in such condition that it has no reasonable prospect of use for any purpose as a unit (either by the holding or other Federal agency), and its repair or rehabilitation for use as a unit is clearly impracticable. Repairs or rehabilitation estimated to cost in excess of 65 percent of acquisition cost would be considered “clearly impracticable” for purposes of this definition.