In this subtitle the following words have the meanings indicated. “Excess personal property” means an item of personal property that is declared to be in excess of the needs of the custodial unit of the State government because the item: is not necessary to the efficient operation of the unit; or has been replaced by a similar item. “Nonexpendable item” means an item of equipment or furnishing that has: an anticipated useful life of more than 1 year; and an original cost exceeding a minimum dollar amount established by the Department by regulation. “Surplus personal property” means an item of excess personal property that the Department declares is not needed by any unit of the State government.