UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q/A
                                (AMENDMENT NO. 1)


[x]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
     Act of 1934

For the period ended             June 30, 2001
                     -----------------------------------------------------------

[ ]  Transition  Report  Pursuant  to  Section  13 or  15(d)  of the  Securities
     Exchange Act of 1934

For the transition period from                     to
                               -------------------    --------------------------

Commission File Number            333-37504-01
                       ---------------------------------------------------------

                          ICON Income Fund Eight B L.P.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


         Delaware                                      13-4101114
--------------------------------------------------------------------------------
(State or other jurisdiction of          (IRS Employer Identification Number)
incorporation or organization)


              111 Church Street, White Plains, New York 10601-1505
-------------------------------------------------------------------------------
  (Address of principal executive offices)              (Zip code)


                                 (914) 993-1700
--------------------------------------------------------------------------------
               Registrant's telephone number, including area code



         Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.
                                                                  [x] Yes [ ] No
<PAGE>

                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

PART I - FINANCIAL INFORMATION

Item 1 - Financial Statements

                           Consolidated Balance Sheet

                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                  June 30,      December 31,
                                                                   2001            2000
                                                                   ----            ----
<S>                                                           <C>              <C>
         Assets
Cash                                                          $   4,318,333    $   1,315,706
                                                              -------------    -------------

Investment in finance leases
   Minimum rents receivable                                      27,010,632       11,631,296
   Estimated unguaranteed residual values                         2,175,546        1,233,991
   Initial direct costs                                             642,363          289,670
   Unearned income                                               (5,811,588)      (2,998,971)
                                                              -------------    -------------
                                                                 24,016,953       10,155,986

Investment in operating leases
   Equipment, at cost                                            95,692,503       76,284,645
   Accumulated depreciation                                      (5,832,348)        (111,940)
                                                              -------------    -------------
                                                                 89,860,155       76,172,705

Investment in unguaranteed residual value                         1,539,702
                                                                               -------------

Other assets                                                      1,618,032          463,781
                                                              -------------    -------------

Total assets                                                  $ 121,353,175    $  88,108,178

         Liabilities and Partners' Equity

Notes payable - non-recourse                                  $  75,421,604    $  60,497,834
Note payable - line of credit                                       500,000        7,000,000
Deferred rental income                                            1,433,251
                                                                               -------------
Security deposits and other liabilities                             989,543          352,383
Minority interests in joint ventures                              1,580,415        1,493,780
                                                              -------------    -------------
                                                                 79,924,813       69,343,997
                                                              -------------    -------------

Partners' equity
   General Partner                                                  (15,848)          (1,316)
   Limited Partners (495,791.23 and 219,813.65
     units outstanding, $100 per unit original issue price)      41,444,210       18,765,497
                                                              -------------    -------------

   Total partners' equity                                        41,428,362       18,764,181
                                                              -------------    -------------

Total liabilities and partners' equity                        $ 121,353,175    $  88,108,178

<FN>
See accompanying notes to financial statements.
</FN>
</TABLE>
                                     Page 2
<PAGE>

                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                      Consolidated Statement of Operations

                                   (Unaudited)

<TABLE>
<CAPTION>
                                           For the Three Months       For the Six Months
                                              Ended June 30,            Ended June 30,
                                             2001         2000         2001        2000
                                             ----         ----         ----        ----
<S>                                       <C>          <C>          <C>          <C>
Revenues

   Finance income                         $  608,123   $   17,620   $  945,326   $   17,620
   Rental income                           4,472,622         --      8,654,840         --
   Interest income and other                  15,595          253       53,503          253
                                          ----------   ----------   ----------   ----------

   Total revenues                          5,096,340       17,873    9,653,669       17,873
                                          ----------   ----------   ----------   ----------
Expenses

   Depreciation                            2,978,153         --      5,720,408         --
   Interest                                1,300,269         --      2,620,111         --
   Management fees - General Partner         369,339        2,415      565,657        2,415
   Administrative expense
     reimbursements - General Partner        154,206          966      232,733          966
   Amortization of initial direct costs       50,704        1,295       74,638        1,295
   Minority interest expense                  46,577         --         86,635         --
   General and administrative                 33,575        1,451      176,960        1,451
                                          ----------   ----------   ----------   ----------

   Total expenses                          4,932,823        6,127    9,477,142        6,127
                                          ----------   ----------   ----------   ----------

Net income                                $  163,517   $   11,746   $  176,527   $   11,746

Net income allocable to:
   Limited partners                       $  161,882   $   11,629   $  174,762   $   11,629
   General Partner                             1,635          117        1,765          117
                                          ----------   ----------   ----------   ----------

                                          $  163,517   $   11,746   $  176,527   $   11,746

Weighted average number of limited
   partnership units outstanding             360,458       18,806      299,982       18,806

Net income per weighted average
   limited partnership unit               $      .45   $      .62   $      .58   $      .62
<FN>
See accompanying notes to consolidated financial statements.
</FN>
</TABLE>
                                     Page 3

<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                    Statement of Changes in Partners' Equity

            For the Period from February 7, 2000 (date of inception)
        Through December 31, 2000 and the Six Months Ended June 30, 2001

                                   (Unaudited)

<TABLE>
                                   Limited Partner Distributions
                                   -----------------------------
<CAPTION>

                                      Return of    Investment           Limited        General
                                       Capital       Income            Partners        Partner          Total
                                       -------       ------            --------        -------          -----
                                    (Per weighted average unit)

<S>                                                               <C>             <C>             <C>
Initial partners'
   capital contribution                                           $      1,000    $      1,000    $      2,000

Refund of initial
   limited partners'
   capital contribution                                                 (1,000)           --            (1,000)

Proceeds from issuance
   of limited partnership
   units (219,813.65 units)                                         21,981,365            --        21,981,365

Sales and offering expenses                                         (2,967,484)           --        (2,967,484)

Cash distributions to partners   $       1.88    $       2.18         (536,708)         (5,228)       (541,936)

Net income                                                             288,324           2,912         291,236
                                                                  ------------    ------------    ------------

Balance at
   December 31, 2000                                                18,765,497          (1,316)     18,764,181

Proceeds from issuance
   of limited partnership
   units (275,977.58 units)                                         27,597,758            --        27,597,758

Sales and offering expenses                                         (3,479,906)           --        (3,479,906)

Cash distributions
   to partners                   $       4.80    $        .58       (1,613,901)        (16,297)     (1,630,198)

Net income                                                             174,762           1,765         176,527
                                                                  ------------    ------------    ------------

Balance at
   June 30, 2001                                                  $ 41,444,210    $    (15,848)   $ 41,428,362
<FN>

See accompanying notes to financial statements.
</FN>
</TABLE>
                                     Page 4
<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                             Statement of Cash Flows

                        For the Six Months Ended June 30,

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              2001               2000
                                                              ----               ----
<S>                                                        <C>             <C>
Cash flows from operating activities:
   Net income                                              $    176,527    $     11,746
                                                           ------------    ------------
   Adjustments to reconcile net income to
    net cash provided by operating activities:
     Finance income paid directly to lenders by lessees        (152,148)           --
     Depreciation                                             5,720,408            --
     Amortization of initial direct costs                        74,638           1,295
     Minority interest expense                                   86,635            --
     Changes in operating assets and liabilities:
      Deferred rental income                                  1,433,251            --
      Collection of principal - non-financed receivables      1,071,662          30,686
      Other assets                                             (818,045)           --
      Accounts payable to General Partner                          --           120,231
      Security deposits and other liabilities                   637,160           3,497
                                                           ------------    ------------

        Total adjustments                                     8,053,561         155,709
                                                           ------------    ------------

     Net cash provided by operating activities                8,230,088         167,455
                                                           ------------    ------------

Cash flows used in investing activities:
   Equipment purchased                                      (10,727,951)     (2,071,798)
   Investment in unguaranteed residual                       (1,539,702)           --
   Initial direct costs                                        (997,951)        (62,154)
   Other assets                                                (336,206)           --
                                                           ------------    ------------

     Net cash used in investing activities                  (13,601,810)     (2,133,952)
                                                           ------------    ------------

Cash flows from financing activities:
   Initial partners capital contributions                          --             2,000
   Issuance of limited partnership units,
    net of offering expenses                                 24,117,852       3,253,385
   Payment of non-recourse borrowings                        (7,613,305)           --
   Payment of note payable - line of credit                  (6,500,000)           --
   Cash distributions to partners                            (1,630,198)           --
                                                           ------------    ------------

     Net cash provided by financing activities                8,374,349       3,255,385
                                                           ------------    ------------

Net increase in cash                                          3,002,627       1,288,888

Cash at beginning of the period                               1,315,706            --
                                                           ------------    ------------

Cash at end of year                                        $  4,318,333    $  1,288,888
<FN>
See accompanying notes to financial statements.
</FN>
</TABLE>
                                     Page 5
<PAGE>

                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                Consolidated Statement of Cash Flows (continued)


Supplemental Disclosure of Cash Flow Information


     For the six months ended June 30, 2001,  non-cash  activities  included the
following:


Fair value of equipment and receivables
   purchased for debt                                           $    22,537,075
Non-recourse notes payable assumed in purchase price                (22,537,075)
                                                                ---------------

                                                                $          -


                                     Page 6
<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

                                  June 30, 2001
                                   (Unaudited)

1.   Organization

     ICON Income Fund Eight B L.P. (the "Partnership") was formed on February 7,
2000 (date of  inception)  as a  Delaware  limited  partnership  with an initial
capitalization  of $2,000.  It was formed to acquire  various types of equipment
subject  to  lease to third  parties.  The  Partnership's  maximum  offering  is
$75,000,000.  The  Partnership  commenced  business  operations  on its  initial
closing date, June 14, 2000, with the admission of 15,815.51 limited partnership
units at $100 per unit representing  $1,581,551 of capital contributions.  As of
December  31,  2000,  203,998.14  additional  units had been  admitted in to the
partnership  with aggregate  gross  proceeds of  $20,399,814  bringing the total
admission to 219,813.65  units totaling  $21,981,365  in capital  contributions.
During the six months ended June 30, 2001,  275,977.58 additional units had been
admitted into the  Partnership  with  aggregate  gross  proceeds of  $27,597,758
bringing the total admission to 495,791.23 units totaling $49,579,123 in capital
contributions.

     The General  Partner of the Partnership is ICON Capital Corp. (the "General
Partner"), a Connecticut  corporation.  The General Partner manages and controls
the  business  affairs of the  Partnership's  equipment,  leases  and  financing
transactions under a management agreement with the Partnership.

2.   Basis of Presentation

     The   financial   statements   of  ICON  Income  Fund  Eight  B  L.P.  (the
"Partnership")  have been prepared  pursuant to the rules and regulations of the
Securities  and  Exchange   Commission  (the  "SEC")  and,  in  the  opinion  of
management,  include  all  adjustments  (consisting  only  of  normal  recurring
accruals)  necessary  for a fair  statement  of income  for each  period  shown.
Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with accounting  principles generally accepted
in the United States of America have been condensed or omitted  pursuant to such
SEC rules and  regulations.  Management  believes that the disclosures  made are
adequate to make the information  presented not misleading.  The results for the
interim period are not necessarily  indicative of the results for the full year.
These  financial  statements  should be read in  conjunction  with the financial
statements  and notes included in the  Partnership's  2000 Annual Report on Form
10-K.

3.   Related Party Transactions

     Fees and expenses paid or accrued by the Partnership to the General Partner
or its affiliates for the period ended June 30, 2001 and 2000 were as follows:

<TABLE>
<CAPTION>
                                                        2001               2000
                                                        ----               ----
<S>                                                <C>                 <C>
     Organization and offering expenses            $     720,129       $     131,640         Charged to equity
     Underwriting commissions                            551,955              75,223         Charged to equity
     Acquisition fees                                  1,934,157              62,154         Capitalized
     Management fees                                     565,657               2,415         Charged to operations
     Administrative expense reimbursements               232,733                 966         Charged to operations
                                                   -------------       -------------

                                                   $   4,004,631       $     272,398
</TABLE>

                                     Page 7
<PAGE>

                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

     During  the period  ended  June 30,  2001 the  Partnership  entered  into a
binding purchase agreement to purchase a lease investment. An acquisition fee of
$336,206  was paid to the  General  Partner in the period  with  respect to this
acquisition.  This amount was  included in the caption  Other assets on the June
30, 2001 balance sheet.

4.   Joint Ventures

     The  Partnership and affiliates  formed two joint ventures  discussed below
for the purpose of acquiring and managing various assets.

     In 2000, the Partnership and three affiliates, ICON Cash Flow Partners L.P.
Six ("L.P.  Six"),  ICON Cash Flow Partners L.P.  Seven ("L.P.  Seven") and ICON
Income Fund Eight A L.P.  ("Fund Eight A") formed ICON  Cheyenne for the purpose
of acquiring a portfolio of leases with a purchase price of  $29,705,716,  which
was funded with cash and non-recourse  debt assumed.  The leases expire from May
2001 to September 2006. The Partnership,  L.P. Seven,  L.P. Six and Fund Eight A
have ownership interests of 87.69%, 10.31%, 1.0% and 1.0%, respectively, in ICON
Cheyenne.  The Partnership's  consolidated  financial statements include 100% of
the assets and liabilities of ICON Cheyenne. L.P. Seven, L.P. Six and Fund Eight
A's interest in ICON Cheyenne have been reflected as minority  interest in joint
ventures.

     In 2000, the Partnership  and two  affiliates,  L.P. Seven and Fund Eight A
formed ICON  Aircraft for the purpose of acquiring an  investment in an aircraft
leased to  Scandinavian  Airlines  System with a purchase price of  $44,515,416,
which was funded with cash and non-recourse  debt assumed in the purchase price.
The lease expires in March 2003.  The  Partnership,  L.P. Seven and Fund Eight A
have ownership interests of 96%, 2% and 2%,  respectively in ICON Aircraft.  The
Partnership's  consolidated  financial statements include 100% of the assets and
liabilities  of ICON  Aircraft.  L.P.  Seven and Fund Eight A's interest in ICON
Aircraft have been reflected as minority interest in joint ventures.

5.   Investments in Unguaranteed Residual Values

     In the quarter ended June 30, 2001, the Partnership invested $1,539,702 for
residual  interests  related to a portfolio of  technology  and other  equipment
leases with various lessees in the United Kingdom.

     The  investment  is carried at cost until sale of the  equipment,  at which
time a gain or loss will be recognized on each transaction,  however,  until the
equipment is sold, the investment  will be subject to the  Partnership's  policy
relating to  impairment  of  residuals,  as  disclosed in the notes to financial
statements  in the  Partnership's  2000 Form 10-K.  No income will be recognized
until the  underlying  equipment is sold.  Expiration of the  underlying  leases
commences in 2003.

6.   Deferred Rental Income

     Deferred rental income represents initial rentals received from a customer,
which amount is being  recognized  in income  following the straight line method
over the term of the lease.

                                     Page 8
<PAGE>

7.     Subsequent Events

       Limited partners who purchased units after June 7, 2001 and before August
18,  2001 have the right to require the  Partnership  to  repurchase  his or her
units  within  the  one-year  period   following  such  purchase  since  certain
information  contained  in the  prospectus  used  during  this period was not as
current as required by the rules of the Securities and Exchange Commission.  The
repurchase  price  would be  equal  to the  offering  price  per  unit  less any
distributions received with respect to such units.  142,049.4793 units were sold
resulting in gross offering proceeds of $14,204,947.93 during this period, which
units comprise 18.94% of all units that the Partnership is offering for sale. Of
this amount, 45,761.3034 units (comprising $4,576,130.34) were sold between June
7, 2001 and June 30, 2001.  If a substantial  number of these  limited  partners
choose to have their  units  repurchased  after the  offering  is closed and the
Partnership's  available cash were less than the amount needed to repurchase the
units,  the Partnership  would have to sell equipment or borrow in order to fund
these  repurchases.  If the Partnership  were not able to resell the repurchased
units,  the  Partnership's  investments may be less  diversified than they would
have been if the maximum offering were raised.


                                     Page 9
<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                  June 30, 2001

Item 2: General  Partner's  Discussion  and Analysis of Financial  Condition and
Results of Operations

     The  Partnership  did not begin  operations  until June 2000.  Therefore  a
discussion  of changes from the three and six month  periods ended June 30, 2000
is not meaningful.

Results of Operations for the Three Months Ended June 30, 2001

     For the  three  months  ended  June  30,  2001  the  Partnership  purchased
equipment  subject to lease with an initial cost of $11,635,114 to three lessees
and purchased an investment in  unguaranteed  residual  value at a total cost of
$1,539,702.

     Revenues  for the  three  months  ended  June  30,  2001  were  $5,096,340,
representing  rental  income  of  $4,472,622,  finance  income of  $608,123  and
interest  income and other of $15,595.  Expenses for the three months ended June
30, 2001 were  $4,932,823,  representing  depreciation  of $2,978,153,  interest
expense  of  $1,300,269,   management   fees  -  General  Partner  of  $369,339,
administrative   expense   reimbursements   -  General   Partner  of   $154,206,
amortization of initial direct costs of $50,704,  minority  interest  expense of
$46,577 and general and administrative expense of $33,575.

     The net income for the three months ended June 30, 2001 was  $163,517.  The
net income per weighted average limited partnership unit was $.45.

Results of Operations for the Six Months Ended June 30, 2001

     Revenues  for  the  six  months  ended  June  30,  2001  were   $9,653,669,
representing  rental  income  of  $8,654,840,  finance  income of  $945,326  and
interest income and other of $53,503. Expenses for the six months ended June 30,
2001 were $9,477,142,  representing depreciation of $5,720,408, interest expense
of $2,620,111,  management  fees - General  Partner of $565,657,  administrative
expense  reimbursements  - General Partner of $232,733,  amortization of initial
direct costs of $74,638,  minority  interest  expense of $86,635 and general and
administrative expense of $176,960.

     The net income for the six months ended June 30, 2001 was $176,527. The net
income per weighted average limited partnership unit was $.58.

Liquidity and Capital Resources

     The Partnership's primary source of funds for the six months ended June 30,
2001 were capital contributions, net of offering expenses of $24,117,852 and net
cash provided by operations of $8,230,088. Funds generated were utilized for the
cash portion of lease and residual value investments purchased and related costs
of  $13,601,810,  debt  repayments  of  $14,113,305  and cash  distributions  to
partners of $1,630,198.

     The  Partnership  intends to continue to purchase  equipment  and fund cash
distributions  utilizing funds from capital contributions,  cash from operations
and additional borrowings.

                                    Page 10
<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

Item 3.  Qualitative and Quantitative Disclosures About Market Risk

     The  Partnership is exposed to certain market risks,  including  changes in
interest rates. The Partnership  believes its exposure to other market risks are
insignificant to both its financial position and results of operations.

     The  Partnership  manages its interest  rate risk by  obtaining  fixed rate
debt. The fixed rate debt service  obligation  streams are generally  matched by
fixed  rate  lease  receivable  streams  generated  by the  Partnership's  lease
investments.

     The  Partnership  borrows funds under a floating rate line of credit and is
therefore  exposed to interest  rate risk until the floating rate line of credit
is repaid.  The Partnership's  borrowings under the floating rate line of credit
as of June 30, 2001 was $500,000.  The Partnership  believes the risk associated
with rising interest rates under this line is not significant.

                                    Page 11
<PAGE>


                          ICON Income Fund Eight B L.P.
                         (A Delaware Limited Partnership


PART II - OTHER INFORMATION


Item 6 - Exhibits and Reports on Form 8-K

No reports on Form 8-K were filed by the  Partnership  during the quarter  ended
June 30, 2001.

                                    Page 12
<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



                              ICON Income Fund Eight B L.P.
                              File No. 333-37504(Registrant)
                              By its General Partner,
                              ICON Capital Corp.





  August 22, 2001             /s/ Thomas W. Martin
----------------------        --------------------------------------------------
       Date                   Thomas W. Martin
                              Executive Vice President
                              (Principal financial and accounting officer of the
                              General Partner of the Registrant)



                                    Page 13