(30 ILCS 605/6.02) (from Ch. 127, par. 133b9.2)
Sec. 6.02.
Each responsible officer shall maintain a permanent record of
all items of property under his jurisdiction and control, provided the
administrator may exempt tangible personal property of nominal value or in
the nature of consumable supplies, or both; and provided further that
"textbooks" as defined in Section 18-17 of The School Code shall be
exempted by the administrator after those textbooks have been on loan
pursuant to that Section for a period of 5 years or more. The listing shall
include all property being acquired under agreements which are required by
the State Comptroller to be capitalized for inclusion in the statewide
financial statements. Each responsible officer shall submit a listing of the
permanent record at least annually to the administrator in such format as
the administrator shall require. The record may be submitted in either hard
copy or computer readable form. The administrator may require more frequent
submissions when in the opinion of the administrator the agency records are
not sufficiently reliable to justify annual submissions.
As used in this Section, "nominal value" means the value of an item is $2,500 or less. For the purposes of this definition, the value of the item shall reflect its depreciated value, as determined by the administrator. The administrator may by rule set the threshold for "nominal value" at a higher amount. Nothing in this definition shall be construed as relieving responsible officers of the duty to reasonably ensure that State property is not subject to theft. (Source: P.A. 102-1119, eff. 1-23-23.)
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