(1) As used in this section, "item of minimal value" means an item of property that:
(a)
(i) had an initial purchase price of less than $100; and
(ii) does not appreciate in value; or
(b) the surplus property program administrator determines to be worth less than $100.
(2) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division shall make rules that permit a state agency to dispose of an item of minimal value that the state agency has declared to be state surplus property as provided in Section 63A-2-401.
(3) Property of a state agency is presumed to be an item of minimal value if the property is not purchased after the surplus property program administrator offers the property for sale to the public at a price above $100.