Page 707

House Bill No. 5506

Public Act No. 22-118 707 of 739

present true and actual value of tangible personal property, other than motor vehicles, shall be determined in accordance with the provisions of this subsection. If such property is purchased, its true and actual value shall be established in relation to the cost of its acquisition, including transportation and installation, and shall reflect depreciation in accordance with the schedules set forth in subdivisions (3) to (6), inclusive, of this subsection. If such property is developed and produced by the owner of such property for a purpose other than wholesale or retail sale or lease, its true and actual value shall be established in relation to its cost of development, production and installation and shall reflect depreciation in accordance with the schedules provided in subdivisions (3) to (6), inclusive, of this subsection. The provisions of this subsection shall not apply to property owned by a public service company, as defined in section 16-1. (3) The following schedule of depreciation shall be applicable with respect to electronic data processing equipment: (A) Group I: Computer and peripheral hardware, including, but not limited to, personal computers, workstations, terminals, storage devices, printers, scanners, computer peripherals and networking equipment: Depreciated Value As Percentage Assessment Year Of Acquisition Following Acquisition Cost Basis First year Seventy per cent Second year Forty per cent Third year Twenty per cent Fourth year and thereafter Ten per cent

(B) Group II: Other hardware, including, but not limited to, mini-