Section 5010.311  Loss of Value

For purposes of determining depreciation as it pertains to the nominal value of an item, value shall be determined by the agency using prevailing industry standards and based on the condition of the property.  All determinations must be approved by the Administrator prior to removal by the agency of the item from its property records.

(Source:  Added at 43 Ill. Reg. 5637, effective May 3, 2019)