Section 1025.20  Definitions

The following definitions apply to all terms used in this Part.

            "Board" means Illinois Board of Higher Education.

            "Engineering college" means a school, college, university, department of a university or other educational institution located in Illinois which grants baccalaureate degrees in engineering and which is reputable and in good standing in accordance with the rules prescribed by the Department of Professional Regulation. (Section 4 of "The Professional Engineering Act", Ill. Rev. Stat. 1987, ch. 111, par. 5106.)

            "Engineering laboratory equipment" means equipment to be used in engineering programs and includes the acquisition, replacement or increase of visible tangible personal property of a non-consumable nature, having a unit value exceeding $100.00, (Section 20 of "AN ACT in relation to State Finance," Ill. Rev. Stat. 1987, ch. 127, par. 156.) excluding laboratory or classroom furniture. (Section 9.13 of "AN ACT creating a Board of Higher Education, defining its powers and duties and making an appropriation therefore, and repealing an Act herein named" (the Act), Ill. Rev. Stat. 1987, ch. 144, par. 189.13.)

            Engineering "software" means a computer program or programs used for teaching or research by an engineering college.

            "Fair market value" is the price at which a willing seller and a willing buyer will trade at that point in time which the engineering equipment is donated to the college.

            "Grant Year" shall be the fiscal year, from July 1 to the subsequent June 30, during which grant applications are submitted by the engineering college and grants are made by the Board.

            "Matching funds" means:  either the fair market value of in-kind contributions of engineering laboratory equipment and software; (Section 9.13 of the Act, Ill. Rev. Stat. 1987, ch. 144, par. 189.13) or any funds which were expended for engineering laboratory equipment or software, provided such funds were not appropriated by the General Assembly or did not result from tuition, fees or assessments. (Section 9.13 of the Act, Ill. Rev. Stat. 1987, ch. 144, par. 189.13)

(Source:  Amended at 14 Ill. Reg. 2015, effective January 18, 1990)