1. a) All agencies wishing to trade in transferable equipment must notify the Department in writing of their intentions.

2. b) The written notification must contain:

   1. 1) a full description of the equipment to be traded in, including the date purchased, inventory number, and serial number, if applicable;
   2. 2) a full description of the new equipment the agency is seeking to obtain;
   3. 3) the name of the person or business accepting the trade-in;
   4. 4) the cost of the new item; and
   5. 5) the value allowed on the trade-in.
3. c) The Department willthen approve or disapprove the request. Approval will be granted when the requested trade-in is economically advantageous to the State.
4. d) If the trade-in is approved, the agency making the trade-in shall submit a completed Property Change Report Form to the Department, noting a transaction code 34.
5. e) To allow for year end processing, an extra 30 day time period for reporting trade-in transactions shall be granted by the Department.

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