Service Life Extension Program Law and Legal Definition

According to 41 CFR 102-39.20 [Title 41 Public Contracts and Property Management; Subtitle C Federal Property Management Regulations System; Chapter 102 Federal Management Regulation System; Subchapter B Personal Property; Part 102-39 Replacement of Personal Property Pursuant to the Exchange/Sale Authority; Subpart A General], Service Life Extension Program (SLEP) means the modification of a personal property item undertaken to extend the life of the item beyond that which was previously planned. SLEPs extend capital asset life by retrofit, major modification, remanufacturing, betterment, or enhancement.