(35 ILCS 200/10‑390)
Sec. 10‑390. Valuation of supportive living facilities.
(a) Notwithstanding Section 1‑55, to determine the fair cash value of any supportive living facility established under Section 5‑5.01a of the Illinois Public Aid Code, in assessing the facility, a local assessment officer must use the income capitalization approach.
(b) When assessing supportive living facilities, the local assessment officer may not consider:
(1) payments from Medicaid for services
| provided to residents of supportive living facilities when such payments constitute income that is attributable to services and not attributable to the real estate; or | |
(2) payments by a resident of a supportive |
| living facility for services that would be paid by Medicaid if the resident were Medicaid‑eligible, when such payments constitute income that is attributable to services and not attributable to real estate. | |
(Source: P.A. 94‑1086, eff. 1‑19‑07.) |
