Illinois Statutes Chapter 30. Finance § 105/20. “Equipment” defined

§ 20. The item “equipment,” when used in an appropriation act, shall mean and include all expenditures for library books, and expenditures, having a unit value exceeding $100, for the acquisition, replacement or increase of visible tangible personal property of a non-consumable nature, including livestock, whether by purchase, lease-purchase or installment purchase contract. In addition, the “option price” under a bona fide lease with option to purchase is properly payable from the item “equipment”.

The item “equipment” does not include expenditures pursuant to multi-year lease, lease-purchase or installment purchase contracts for duplicating equipment authorized by Section 5.1 of “The Illinois Purchasing Act”, approved July 11, 1957, as now or hereafter amended,  1 and does not include any expenditure in connection with the repair, maintenance or improvement of real property.