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


                                                      FORM 10-Q


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

For the period ended                         June 30, 2002
                     -----------------------------------------------------------

[  ]  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
                       ---------------------------------------------------------

                         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)


                   100 Fifth Avenue, New York, New York 10011
--------------------------------------------------------------------------------
  (Address of principal executive offices)                 (Zip code)


                                 (212) 418-4700
--------------------------------------------------------------------------------
               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)

                           Consolidated Balance Sheets

                                   (unaudited)

                                                   June 30,       December 31,
                                                    2002              2001
                                                    ----              ----
         Assets

Cash and cash equivalents                       $  11,270,106    $   5,684,652
                                                -------------    -------------

Investments in finance leases
   Minimum rents receivable                        28,646,135       32,769,190
   Estimated unguaranteed residual values           2,711,893        2,711,893
   Initial direct costs                               594,789          746,106
   Unearned income                                 (5,110,403)      (6,568,703)
                                                -------------    -------------
                                                   26,842,414       29,658,486
                                                -------------    -------------

Investments in operating leases
   Equipment, at cost                             170,077,248       95,156,568
   Accumulated depreciation and amortization      (17,573,182)     (11,456,484)
                                                -------------    -------------
                                                  152,504,066       83,700,084
                                                -------------    -------------

Investments in unconsolidated joint ventures        6,880,139             -
Due from affiliates                                      --          3,730,884
Investment in unguaranteed residual                 2,406,128        2,406,128
Investment in option                                2,100,000        2,100,000
Other assets                                          757,876        2,915,266
Cash held in escrow                                   431,500       13,723,196
                                                -------------    -------------
Total assets                                    $ 203,192,229    $ 143,918,696
                                                =============    =============

   Liabilities and Partners' Equity

Notes payable, non-recourse                     $ 141,219,113    $  76,852,204
Note payable - recourse                               400,000        2,900,000
Due to affiliates                                      69,161
                                                                          -
Deferred rental income                              1,203,404
                                                                          -
Security deposits and other                         1,387,751        1,269,603
Minority interests in joint ventures                1,570,426        1,684,289
                                                -------------    -------------
                                                  145,849,855       82,706,096
                                                -------------    -------------

Partners' equity (deficit)
   General Partner                                    (81,534)         (42,960)
   Limited Partners (749,836.07 and 750,000
    units outstanding, $100 per unit original
    issue price)                                   57,423,908       61,255,560
                                                -------------    -------------
   Total partners' equity                          57,342,374       61,212,600
                                                -------------    -------------

Total liabilities and partners' equity          $ 203,192,229    $ 143,918,696
                                                =============    =============


See accompanying notes to financial statements.


<PAGE>


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

                      Consolidated Statements of Operations

                                   (unaudited)
<TABLE>

                                                            For the Three Months               For the Six Months
                                                               Ended June 30,                    Ended June 30,
                                                           2002             2001              2002            2001
                                                           ----             ----              ----            ----

Revenues
<S>                                                  <C>               <C>              <C>               <C>
   Rental income                                     $   5,806,411     $   4,472,622    $  10,818,215     $   8,654,840
   Finance income                                          708,388           608,123        1,458,300           945,326
   Gain on sale of equipment                               146,058                 -          241,584
            -
   (Loss) income from investments in
      joint ventures                                        47,397                 -          262,807
            -
   Interest income and other                                17,348            15,595           27,667            53,503
                                                     -------------     -------------    -------------     -------------

   Total revenues                                        6,725,602         5,096,340       12,808,573         9,653,669
                                                     -------------     -------------    -------------     -------------

Expenses

   Depreciation                                          3,825,406         2,978,153        6,976,917         5,720,408
   Interest                                              2,018,568         1,300,269        3,388,392         2,620,111
   Management fees - General Partner                       657,244           369,339        1,134,674           565,657
   Administrative expense
     reimbursements - General Partner                      278,657           154,206          503,678           232,733
   General and administrative                              146,612            33,575          299,037           176,960
   Amortization of initial direct costs                     70,281            50,704          151,317            74,638
   Minority interest expense                                39,122            46,577          140,529            86,635
                                                     -------------     -------------    -------------     -------------

   Total expenses                                        7,035,890         4,932,823       12,594,544         9,477,142
                                                     -------------     -------------    -------------     -------------

Net (loss) income                                    $    (310,288)    $     163,517    $     214,029     $     176,527
                                                     =============     =============    =============     =============

Net (loss) income allocable to:
   Limited partners                                  $    (307,185)    $     161,882    $     211,889     $     174,762
   General Partner                                          (3,103)            1,635            2,140             1,765
                                                     -------------     -------------    -------------     -------------

                                                     $    (310,288)    $     163,517    $     214,029     $     176,527
                                                     =============     =============    =============     =============

Weighted average number of limited
   partnership units outstanding                           749,877           360,458          749,565           299,982
                                                     =============     =============    =============     =============

Net (loss) income per weighted average
   limited partnership unit                          $       (0.41)    $         .45    $        0.28     $         .58
                                                     =============     =============    =============     =============
</TABLE>


See accompanying notes to consolidated financial statements.


<PAGE>


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

             Consolidated Statements of Changes in Partners' Equity

                     For the Six Months Ended June 30, 2002
                      and the Year Ended December 31, 2001

                                   (unaudited)
<TABLE>

                                   Limited Partner Distributions

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

<S>                                     <C>           <C>         <C>            <C>              <C>

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

Proceeds from issuance
   of limited partnership
   units (530,186.35 units)                                         53,018,635               -
53,018,635

Sales and offering expenses                                         (6,407,516)             -
(6,407,516)

Cash distributions
   to partners                        $  8.20       $  1.62         (4,932,964)      (49,845)       (4,982,809)

Net income                                                             811,908         8,201           820,109
                                                                 -------------  ------------     -------------

Balance at
   December 31, 2001                                                61,255,560       (42,960)       61,212,600

Redeemed (163.934 units)                                               (12,867)              -
(12,867)
Cash distributions to partners        $  5.10       $  0.28         (4,030,674)      (40,714)
(4,071,388)

Net income                                                             211,889         2,140           214,029
                                                                 -------------   -----------     -------------

Balance of
June 30, 2002                                                    $  57,423,908   $   (81,534)    $  57,342,374
                                                                 =============   ===========     =============

</TABLE>






See accompanying notes to financial statements.


<PAGE>


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

                      Consolidated Statements of Cash Flows

                        For the Six Months Ended June 30,

                                   (unaudited)
<TABLE>


                                                                  2002             2001
                                                                  ----             ----
<S>                                                           <C>                <C>
Cash flows from operating activities:
   Net income                                                $     214,029     $     176,527
                                                             -------------     -------------
   Adjustments to reconcile net income to
     net cash provided by operating activities:
       Finance income paid directly to lenders                    (707,098)         (152,148)
       Depreciation                                              6,976,917         5,720,408
       Amortization of initial direct costs                        151,317            74,638
       Minority interest expense                                   140,529            86,635
       Income from investments in joint ventures                  (262,807)
            -
       Gain on sale of equipment                                  (241,584)
            -
       Rental income paid directly to lender
        by lessees                                              (9,988,471)       (8,146,820)
       Interest expense on non-recourse financing
         paid directly by lessees                                3,227,443         1,882,096
       Changes in operating assets and liabilities:
         Collection of principal, non-financed
          receivables                                              737,601         1,071,662
         Other assets                                            2,157,390        (1,154,251)
         Due from affiliates                                     3,730,884
            -
         Deferred rental income                                  1,203,404         1,433,251
         Security deposits and other liabilities                   118,148           637,160
         Due to affiliates                                          69,161              -
                                                             -------------     -------------

           Total adjustments                                     7,312,834         1,452,631
                                                             -------------     -------------

       Net cash provided by operating activities                 7,526,863         1,629,158
                                                             -------------     -------------

Cash flows used in investing activities:
   Receipt of cash held in escrow                               13,291,696              -
   Proceeds from the sale of equipment                           1,108,666              -
   Distribution received from unconsolidated
    joint venture                                                  536,993              -
   Investments in joint ventures                                (7,154,326)             -
   Investment in operating leases                               (4,250,000)      (10,727,951)
   Investment in unguaranteed residuals                                  -        (1,539,702)
   Initial direct costs                                         (2,242,352)         (997,951)
   Distribution to minority interest in
    joint venture                                                 (254,392)             -
                                                             -------------     -------------

    Net cash provided by (used in) investing activities          1,036,285       (13,265,604)
                                                             -------------     -------------
</TABLE>





See accompanying notes to financial statements.



<PAGE>


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

               Consolidated Statements of Cash Flows - (continued)

                        For the Six Months Ended June 30,

                                   (unaudited)


                                                       2002             2001
                                                       ----             ----
Cash flows from financing activities:
   Payment of recourse borrowings                  (2,500,000)     (6,500,000)
   Cash distributions to partners                  (4,071,387)     (1,630,198)
   Issuance of limited partnership units,
    net of offering expenses                             --        24,117,852
   Payment of non-recourse borrowings                    --        (1,348,581)
   Proceeds from non-recourse borrowings            3,593,693
                                                                 ------------

    Net cash (used in) provided by
     financing activities                          (2,977,694)     14,639,073
                                                 ------------    ------------

Net increase in cash and cash equivalents           5,585,454       3,002,627

Cash and cash equivalents at beginning
  of the period                                     5,684,652       1,315,706
                                                 ------------    ------------

Cash and cash equivalents at end of the period   $ 11,270,106    $  4,318,333
                                                 ============    ============













See accompanying notes to financial statements.


<PAGE>


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

                Consolidated Statements of Cash Flows (continued)

Supplemental Disclosure of Cash Flow Information

     For the six  months  ended  June 30,  2002 and  2001,  non-cash  activities
included the following:

                                               2002           2001
                                               ----           ----
Principal and interest on direct finance
 receivables paid directly to lenders
 by lessees                               $  2,960,814    $       --
Rental income assigned operating
 lease receivables                           9,988,471       8,146,820
Principal and interest paid directly to
 lenders by lessees                        (12,949,285)     (8,146,820)
                                          ------------    ------------

                                          $       -       $       -
                                          ============    ============

Fair value of equipment
   purchased for debt                     $ 70,495,058    $ 22,537,075
Non-recourse notes payable
   assumed in purchase price               (70,495,058)    (22,537,075)
                                          ------------    ------------

                                          $       -       $       -
                                          ============    ============





<PAGE>


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

                   Notes to Consolidated Financial Statements

                                  June 30, 2002

                                   (Unaudited)

1.   Organization

     ICON Income Fund Eight B L.P. (the "Partnership") was formed on February 7,
2000 as a Delaware limited partnership with an initial capitalization of $2,000.
It was primarily  formed to acquire various types of equipment  subject to lease
with third parties.  The  Partnership's  maximum offering was  $75,000,000.  The
Partnership  commenced business operations on its initial closing date, June 14,
2000,  with the admission of limited  partners  representing  15,815.51  limited
partnership units at the offering price of $100 per unit aggregating  $1,581,551
of capital  contributions.  As of October  17,  2001 (the final  closing  date),
734,184.49  additional  units  had  been  admitted  into  the  Partnership  with
aggregate gross proceeds of $73,418,449  bringing the total admission to 750,000
units totaling $75,000,000 in capital contributions. During the six months ended
June 30, 2002, 163.934 units were redeemed for $12,867.  Total outstanding units
at June 30, 2002 was 749,836.067.

     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 results 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 periods 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  2001 Annual Report on Form
10-K.



<PAGE>


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

                   Notes to Consolidated Financial Statements

                                  June 30, 2002

3.   Related Party Transactions

     Fees and expenses paid or accrued by the Partnership to the General Partner
or its  affiliates  directly  or on  behalf  of  joint  ventures  in  which  the
Partnership  has an interest for the period ended June 30, 2002 and 2001 were as
follows:

                                    2002            2001
                                    ----            ----
<TABLE>
<S>                              <C>              <C>          <C>

  Organization and offering
   expenses                    $       -        $   720,129   Charged to equity
  Underwriting commissions             -            551,955   Charged to equity
  Acquisition fees                 2,242,352      1,934,157   Capitalized as part of investment
                                                               in operating leases
  Acquisition fees                 1,231,826             -    Capitalized as part of
                                                               investment in joint venture
  Management fees                  1,134,674        565,657   Charged to operations
  Administrative expense
   reimbursements                    503,678        232,733   Charged to operations
                               -------------   ------------

                               $   5,112,530   $  4,004,631
                               =============   ============
</TABLE>

     During the period ended June 30, 2002, the Partnership  paid $2,242,352 and
$1,117,901 respectively,  as acquisition fees with respect to its investments in
ICON Aircraft  123, LLC (ICON 123) and ICON Aircraft 126, LLC (ICON 126).  These
amounts  represent  part of the  Partnership's  investment  in  acquiring a 100%
interest in ICON 123,  and a 50%  interest in ICON 126. The amounts are included
under the captions  investments  in operating  leases and  investments  in joint
ventures,  respectively.   During  the  second  quarter  2002,  the  Partnership
reclassified  $113,925 of  acquisition  fees from Other assets to Investments in
unconsolidated joint ventures, as it represented an additional investment in the
joint venture "ICON SPK".

4.   Consolidated Ventures and Investments in Unconsolidated Joint Ventures

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

Consolidated Ventures

     The two ventures  described  below are majority owned and are  consolidated
with the Partnership.

ICON Cheyenne LLC

     In December  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
LLC ("ICON  Cheyenne") for the purpose of acquiring a portfolio of leases for an
aggregate purchase price of $29,705,716, which was paid with cash of $11,401,151
and the assumption of non-recourse debt with an unaffiliated  third party lender
of  $18,304,565.  The debt is structured to be amortized from the application to
the debt of rentals due under the various  leases.  The leases expire on various
dates through  September 2006. The  Partnership,  L.P. Seven,  L.P. Six and Fund




<PAGE>


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

             Notes to Consolidated Financial Statements - Continued

Eight A have ownership interests of 87.69%, 10.31%, 1.0% and 1.0%, respectively,
in ICON Cheyenne.  The Partnership's  consolidated  financed  statements include
100% of the assets and  liabilities as well as 100% of the related  revenues and
expenses of ICON Cheyenne.  The interests of L.P. Seven, L.P. Six and Fund Eight
A in ICON Cheyenne have been  reflected as minority  interests in joint ventures
on  the  consolidated  balance  sheets  and  minority  interest  expense  on the
consolidated statements of operations.

ICON Aircraft 24846, LLC

     In 2000, the Partnership  and two  affiliates,  L.P. Seven and Fund Eight A
formed  ICON  Aircraft  24846 LLC ("ICON  Aircraft  24846")  for the  purpose of
acquiring an  investment  in an aircraft  leased to a  commercial  airline for a
purchase  price of  $44,515,416,  which was funded with cash of  $2,241,371  and
non-recourse  debt of the  $42,274,045.  The  rents and the  aircraft  have been
assigned to the non-recourse  lender.  The lease is scheduled to expire in March
2003,  at  which  time the  balance  of the  non-recourse  debt  outstanding  is
scheduled to be approximately $34,500,000. The Partnership,  L.P. Seven and Fund
Eight A have ownership interests of 96.0%, 2.0% and 2.0%, respectively,  in ICON
Aircraft 24846. The Partnership's consolidated financial statements include 100%
of the  assets and  liabilities  of ICON  Aircraft  24846 as well as 100% of the
related  revenues and expenses.  L.P.  Seven and Fund Eight A's interest in ICON
Aircraft  24846 have been  reflected as minority  interests in joint ventures on
the   consolidated   balance  sheets  and  minority   interest  expense  on  the
consolidated statements of operations.

Investments in Unconsolidated Joint Ventures

     The two  joint  ventures  described  below  are 50%  and 49%  owned  by the
Partnership and are accounted for under the equity method.

     ICON Aircraft 126, LLC

     In early 2002, the  Partnership and ICON Income Fund Nine LLC ("Fund Nine")
formed ICON  Aircraft  126, LLC ("ICON 126") for the purpose of acquiring all of
the outstanding  shares of Delta Aircraft Leasing Limited  ("D.A.L."),  a Cayman
Islands  registered  company,  which  owns,  through an Owner  Trust,  an Airbus
A340-313X  aircraft which is on lease to Cathay Pacific  through March 2006. The
stock was acquired as of March 4, 2002 for a total  purchase price of $4,250,000
in cash. The aircraft owned by D.A.L. is subject to  non-recourse  debt provided
by unaffiliated  lenders.  The lenders have a security  interest in the aircraft
and an assignment of the rentals under the lease. As of June 30, 2002, there was
$69,311,550 of debt outstanding under the non-recourse loan. The Partnership and
Fund  Nine  each own a 50%  interest  in ICON  126.  ICON 126  consolidates  the
financial  position  and  results  of  operations  of  D.A.L.  in its  financial
statements.



<PAGE>


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

             Notes to Consolidated Financial Statements - Continued

     The Partnership's original investment in ICON 126 was recorded at a cost of
$3,242,901, inclusive of related acquisition fees of $1,117,901.  Information as
to the consolidated  financial position and results of operations of ICON 126 as
of and for the quarter ended June 30, 2002 is summarized below:

                                           June 30, 2002

  Assets                                  $    76,402,520
                                          ===============

  Liabilities                             $    69,832,701
                                          ===============

  Equity                                  $     6,569,819
                                          ===============

  Partnership's share of equity           $     3,284,910
                                          ===============

                                         Six Months Ended
                                           June 30, 2002

  Net income                              $        84,017
                                          ===============

  Partnership's share of net income       $        42,009
                                          ===============


     ICON SPK 2023-A, LLC

     In the quarter ended March 31, 2002, the  Partnership  and Fund Nine formed
ICON SPK  2023-A,  LLC ("ICON  SPK") for the  purpose of  acquiring  a portfolio
leases for an aggregate  purchase price of  $7,750,000.  The purchase was funded
with cash.  The leases  expires on various dates  commencing  April 2003 through
April 2008.

     The  Partnership  and Fund  Nine  have  ownership  interest  of 49% and 51%
respectively.  The Partnership  accounts for the investment following the equity
method.  The  Partnership's  original  investment  was  recorded  at a  cost  of
$3,797,500 and is adjusted for its share of earnings,  losses, and distributions
thereafter.

     During  the  quarter  ended June 30,  2002,  the  Partnership  reclassified
$113,925 paid on behalf of the joint venture to the Manager of the joint venture
as additional investment in the joint venture.



<PAGE>


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

             Notes to Consolidated Financial Statements - Continued

     Information as to the financial  position and results of operations of ICON
SPK as of and for the quarter ended June 30, 2002 is summarized below:

                                                           June 30, 2002

                  Assets                                  $     7,843,990
                                                          ===============

                  Liabilities                             $       506,787
                                                          ===============

                  Equity                                  $     7,337,203
                                                          ===============

                  Partnership's share of equity           $     3,595,229
                                                          ===============

                                                         Six Months Ended
                                                          June 30, 2002

                  Net income                              $       450,608
                                                          ===============

                  Partnership's share of net income       $       220,798
                                                          ===============

                  Distributions                           $     1,095,904
                                                          ===============

                  Partnership's share of distributions    $       536,993
                                                          ===============


5.   Cash Held In Escrow

     At June 30,  2002,  the  Partnership  had  $431,500  held in  escrow  by an
unaffiliated  third  party for  investment  in a joint  venture  expected  to be
consummated  in third quarter 2002.  Upon  consummation,  the  Partnership  will
assume a 5%  interest  in the joint  venture,  while Fund Nine will assume a 95%
interest.  The  Partnership  will then account for the investment  following the
equity method.

6.   Investment In Subsidiary

     In early 2002, the  Partnership  formed ICON Aircraft 123, LLC ("ICON 123")
as a wholly owned subsidiary for the purpose of acquiring all of the outstanding
shares of Alpha Aircraft Leasing Limited ("A.A.L."), a Cayman Islands registered
company,  which owns, through an Owner Trust, an Airbus A340-313X aircraft which
is on lease to Cathay Pacific  through March 2006. The stock was acquired in the
first  quarter of 2002 for  $4,250,000 in cash.  The aircraft  owned by Alpha is
subject to non-recourse debt provided by unaffiliated  lenders. The lenders have
a security  interest in the aircraft and an  assignment of the rentals under the
lease. The fair value of the aircraft was  approximately $75 million at the date
of acquisition  and the principal  balance of the debt was  approximately  $70.5
million at such date. ICON 123 consolidates  the financial  position and results
of operations of A.A.L. in its financial statements.  The assets and liabilities
of ICON 123 are consolidated in the Partnership financial statements.



<PAGE>


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

             Notes to Consolidated Financial Statements - Continued

7.   New Financing

     On May 4, 2002, the Partnership  borrowed  $3,593,693  under a non-recourse
note using the  present  value of the  remaining  rentals  due under an aircraft
lease as security. As of June 30, 2002, the outstanding balance of such note was
$3,551,957.

     During the quarter  ended June 30,  2002,  the  Partnership  entered into a
$17,500,000  joint line of credit  agreement  shared  with Fund Eight A and L.P.
Seven,  with  Comerica  Bank as lender.  Under the terms of the  agreement,  the
Partnership  may borrow at a rate equal to the  Comerica  Bank base rate plus 1%
(5.75% at June 30,  2002) and all  borrowings  are to be  collateralized  by the
present values of rents  receivable and residuals.  The expiration  date of this
line of credit is May 31, 2003. As of June 30, 2002, there were no borrowings by
the Partnership under the line.

8.   Contingencies

     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
during this period resulting in gross offering proceeds of $14,204,947.93  which
units comprise 18.94% of all units that the  Partnership  sold. If a substantial
number of these limited partners choose to have their units  repurchased 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 Partnerships investments may be less diversified than they would have
been if the  maximum  offering  were  raised.  There  were  no  unit  repurchase
transactions as a result of this repurchase offer through August 14, 2002.




<PAGE>


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

                                  June 30, 2002

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

Results of Operations for the Three Months Ended June 30, 2002 and 2001

     Revenues  for  the  three  months  ended  June  30,  2002  were  $6,725,602
representing  an increase of  $1,629,262  over the three  months  ended June 30,
2001.  The increase in revenue  resulted  from  continued  purchase of equipment
subject to lease.  Increases  were  comprised of  increases in rental  income of
$1,333,789,  finance income of $100,265,  gain on sale of equipment of $146,058,
and $47,397 from  investment in joint  venture.  During the second quarter 2002,
the Partnership sold equipment from the Cheyenne portfolio for total proceeds of
$579,089 which resulted in a gain of $146,058.

     Expenses  for  the  three  months  ended  June  30,  2002  were  $7,035,890
representing  an increase of  $2,103,067  over the 2001 period.  The increase in
expenses  resulted  from the  increase  in the size of the  Partnership's  lease
portfolio,  an increase in the Partnership's borrowing levels and overall growth
in size of the operations of the Partnership from one year ago and is consistent
with the Partnership's level of operations.

     Depreciation   expense  increased  by  $847,253,   due  to  the  additional
investments  in operating  leases made  subsequent  to June 30,  2001.  Interest
expense increased by $718,299, due to an increase in the Partnership's borrowing
levels.   Management   fees  -  General   Partner   increased  by  $287,905  and
administrative expense reimbursements-general partner increased by $124,451. The
increase in management fees was consistent with increases in rentals  (including
operating leases,  finance leases and through joint ventures) on which such fees
are based.  The  increase  in  administrative  expense  reimbursement  - General
Partner  was  consistent  with  the  increase  in  operating  activities  of the
Partnership.  General and  administrative  expenses  increased  by $113,037  and
amortization  of initial  direct cost of increased by $19,577.  These  increases
were  partially  off-set by a decrease in minority  interest  expense of $7,455.
Minority  interest expense decreased due to the reduction of the lease portfolio
size of ICON Cheyenne.

     Net (loss)  income for the three  months  ended June 30,  2002 and 2001 was
$(310,288)  and  $163,517,  respectively.  The net income per  weighted  average
limited Partnership unit outstanding was $(0.41) and $0.45 for the 2002 and 2001
periods, respectively.

Results of Operations for the Six Months Ended June 30, 2002 and 2001

     Revenues  for  the  six  months  ended  June  30,  2002  were   $12,808,573
representing  an increase of $3,154,904 over the six months ended June 30, 2001.
The increase in revenue resulted from continued purchase of equipment subject to
lease.  Increases in rental income of  $2,163,375,  finance  income of $512,974,
income  from  investment  in  joint  venture  of  $262,807,  and gain on sale of
equipment of $241,584,  were partially  off-set by a decrease in interest income
and other of $25,836. During the six months ended June 30, 2002, the Partnership
sold  equipment  from the Cheyenne  portfolio  for total  proceeds of $1,108,666
which resulted in a gain of $241,584.

     Expenses  for  the  six  months  ended  June  30,  2002  were   $12,594,544
representing  an increase of  $3,117,402  over the 2001 period.  The increase in
expenses  resulted  from the  increase  in the size of the  Partnership's  lease
portfolio,  an increase in the Partnership's borrowing levels and overall growth
in size of the operations of the Partnership from one year ago and is consistent
with the Partnership's level of operations.


<PAGE>



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

                                  June 30, 2002

     Depreciation  expense  increased  by  $1,256,509,  due  to  the  additional
investments  in operating  leases made  subsequent to June 30, 2001.  Management
fees  -  General  partner  increased  by  $569,017  and  administrative  expense
reimbursements  - general partner  increased by $270,945 in the six months ended
June 30, 2002 as compared to the prior year quarter.  The increase in management
fees was  consistent  with  increases in rentals  (including  operating  leases,
finances  leases and through joint  ventures) on which such fees are based.  The
increase  in  administrative   expense  reimbursements  -  General  Partner  was
consistent  with  the  increase  in  operating  activities  of the  Partnership.
Minority interest expense  increased by $53,894,  amortization of initial direct
costs increased by $76,679,  interest expense  increased by $768,281 and general
and administrative  expenses increased by $122,077 in the six months as compared
to 2001.

     Net income for the six months ended June 30, 2002 and 2001 was $214,029 and
$176,527,  respectively. The net income per weighted average limited Partnership
unit   outstanding   was  $0.28  and  $0.58  for  the  2002  and  2001  periods,
respectively.

Liquidity and Capital Resources

     The Partnership's primary source of funds for the six months ended June 30,
2002 was cash provided by operating  activities  of  $7,526,863  and a return of
$13,291,696 from cash in escrow, as well as the collection of sales proceeds due
from L.P. Seven of $3,644,701from  the sale of an interest in a joint venture in
December 2001 and proceeds from non-recourse borrowings of $3,593,693.

     Such funds were utilized for investments in leases and joint ventures, with
related  costs  aggregating   $13,646,678,   (including   initial  direct  costs
(acquisition fees) of $2,242,352), repayment of amounts outstanding under a line
of  credit  of  $2,500,000,  cash to make  cash  distributions  to  partners  of
$4,071,387.  As  cash  is  realized  from  operations  and  with  proceeds  from
additional  borrowings,  the  Partnership  will  continue to invest in equipment
leases and financings where it deems it to be prudent while retaining sufficient
cash to meet its reserve requirements and recurring obligations.

     During  the second  quarter of 2002,  the  Partnership  entered  into a new
$17,500,000  joint line of credit  agreement,  shared with Fund Eight A and L.P.
Seven.  Under the new line,  the  Partnership  may borrow at a rate equal to the
Comerica  Bank  base rate plus 1%  (5.75%  at June 30,  2002),  with  borrowings
collateralized by the present values of rents receivable and residuals. The line
expires May 31,  2003.  As of June 30,  2002,  no amounts  were  borrowed by the
Partnership under the line.

     As of June 30,  2002 there were no known  trends or  demands,  commitments,
events  or  uncertainties,  which  are  likely  to have any  material  effect on
liquidity.



<PAGE>


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

                                  June 30, 2002

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  may borrow funds under a floating rate line of credit and
therefore  may be exposed to interest  rate risk until the floating rate line of
credit is  repaid.  The  Partnership  had no  borrowings  outstanding  under the
floating rate line of credit as of June 30, 2002.

     Kmart,  Inc.,  with  whom  the  Partnership  has  five  leases,  filed  for
bankruptcy in January 2002.  The  Partnership's  finance  leases with Kmart were
acquired  during 2001 for prices  aggregating  $18,234,262,  comprised of a cash
investment of $681,720 and the assumption of $17,552,542 of  non-recourse  debt.
Through  August 1,  2002,  Kmart has made all  scheduled  rental  payments.  The
bankruptcy court has not ruled on the affirmation of the Partnership's leases as
of the date of this report.



<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, 2002.

Exhibits

99.1 Certification  of  Chairman  and Chief  Executive  Officer  pursuant  to 18
     U.S.C.ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
     of 2002.

99.2 Certification  of Executive  Vice  President  and  Principal  Financial and
     Accounting  Officer  pursuant to 18  U.S.C.ss.1350,  as adopted pursuant to
     Section 906 of the Sarbanes-Oxley Act of 2002.





<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 14, 2002           /s/ Thomas W. Martin
------------------------      --------------------------------------------------
       Date                   Thomas W. Martin
                              Executive Vice President
                              (Principal financial and accounting officer of the
                              General Partner of the Registrant)



<PAGE>


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

                                  June 30, 2002

EXHIBIT 99-1

     I,  Beaufort  J.B.  Clarke,  Chairman and Chief  Executive  Officer of ICON
Capital  Corp,  the sole  General  Partner  of ICON  Income  Fund  Eight B L.P.,
certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)  the  Quarterly  Report on Form 10-Q for the period ended June 30, 2002 (the
     "Periodic Report") which this statement accompanies fully complies with the
     requirements  of Section 13(a) of the  Securities  Exchange Act of 1934 (15
     U.S.C. 78m) and

(2)  information  contained  in the  Periodic  Report  fairly  presents,  in all
     material  respects,  the  financial  condition and results of operations of
     ICON Income Fund Eight B L.P..

Dated:  August 14, 2002




                /s/ Beaufort J.B. Clarke
                ------------------------------------------------------
                Beaufort J.B. Clarke
                Chairman and Chief Executive Officer
                ICON Capital Corp.
                sole General Partner of ICON Income Fund Eight B L.P.



<PAGE>


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

                                  June 30, 2002


EXHIBIT 99-2


     I, Thomas W. Martin,  Executive  Vice  President  (Principal  Financial and
Accounting  Officer) of ICON  Capital  Corp,  the sole  General  Partner of ICON
Income Fund Eight B L.P., certify, pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:

(1)  the  Quarterly  Report on Form 10-Q for the period ended June 30, 2002 (the
     "Periodic Report") which this statement accompanies fully complies with the
     requirements  of Section 13(a) of the  Securities  Exchange Act of 1934 (15
     U.S.C. 78m) and

(2)  information  contained  in the  Periodic  Report  fairly  presents,  in all
     material  respects,  the  financial  condition and results of operations of
     ICON Income Fund Eight B L.P..

Dated:  August 14, 2002




           /s/ Thomas W. Martin
           -------------------------------------------------------
           Thomas W. Martin
           Executive Vice President (Principal
           Financial and Accounting Officer)
           ICON Capital Corp.
           sole General Partner of ICON Income Fund Eight B L.P.