(35 ILCS 200/10-390)
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.)