(35 ILCS 200/Art. 10 Div. 15 heading)
DIVISION 15. SUPPORTIVE LIVING FACILITIES
(Source: P.A. 94-1086, eff. 1-19-07.) |
(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
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| (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.
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(Source: P.A. 94-1086, eff. 1-19-07.)
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