{"data":{"id":"us/2-cfr-1108.75","jurisdiction":"us","citation":"2 CFR 1108.75","heading":"Capital asset.","body":"Capital asset means a tangible or intangible asset used in operations having a useful life of more than one year which is capitalized in accordance with GAAP. Capital assets include:\n(a) Land, buildings (facilities), equipment, and intellectual property (including software) whether acquired by purchase, construction, manufacture, lease-purchase, exchange, or through capital leases; and\n(b) Additions, improvements, modifications, replacements, rearrangements, reinstallations, renovations or alterations to capital assets that materially increase their value or useful life (not ordinary repairs and maintenance).","path":["Title 2—Federal Financial Assistance","Subtitle B—Federal Agency Regulations for Grants and Agreements","CHAPTER XI—DEPARTMENT OF DEFENSE","SUBCHAPTER A—GENERAL MATTERS AND DEFINITIONS","PART 1108—DEFINITIONS OF TERMS USED IN SUBCHAPTERS A THROUGH F OF THIS CHAPTER","Subpart B—Definitions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-2.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:23:42Z","sha256":"b5981200a3da6934bc6a50a2e1350cddc587248671cd41e2a515bd596026fd8c","source_id":"us-cfr","stale":true,"prev":"us/2-cfr-1108.70","next":"us/2-cfr-1108.80"},"notice":"GroundRules: Original legal text. Not legal advice."}