Expendable Items Law and Legal Definition

According to 22 CFR 33.2 [Title 22; Foreign Relations; Chapter I; Department of state; Subchapter D; Claims and Stolen Property; Part 33; Fishermen's Protective Act Guaranty Fund Procedures under Section 7] expendable items means any property, excluding that which may be depreciated for income tax purposes, which is maintained in inventory or expensed for tax purposes.