STATE ENTITLEMENTS. The parties acknowledge and agree that under the current system of State of Illinois School Entitlement payments, the School Districts do not necessarily lose the full amount of real estate taxes generated by its levy and extended against the incremental real estate increase. Further, the parties agree that the actual real estate taxes lost to the School Districts are subject to several factors in part beyond the control of the parties and include: (1) the School Districts' operating tax rate; (2) the annual statutory State Entitlement; and (3) other relevant tax limits and formulas. The parties acknowledge that the entire method of funding common schools may be altered to lessen or increase the dependency of school funding on real property taxation and that the entire method of funding common schools may be altered to lessen or increase the dependency of school funding on real property taxation. If the methodology of calculating the annual statutory state entitlement is altered in any way after the date of this Agreement that reduces the amount of state entitlement funds the School District is to receive, then reimbursement calculations under this Agreement shall be adjusted to the extent necessary to ensure that the School District can receive additional reimbursement equal to the amount of statutory state entitlement so lost.
