chool finance is once again a hot topic. Over the last two years, nearly half the states have been somehow involved in debate about the adequacy and/or fairness of their school finance systems. A dozen states are now in various stages of litigation on the constitutionality of their funding systems. These cases are generally about mitigating the wealth-related differences in spending between school districts. In Alabama, Connecticut, Louisiana, and Oklahoma, lawsuits have shifted the emphasis from equitable funding to adequacy (that is, ensuring that states provide the resources needed for each child to meet the state's education standards). Beyond the courts, a concern about property taxes is fueling the debate in some states. Poor student performance is the motivating factor in other instances, where a major question is whether spending more money on schools is the way to improve student achievement. Hovering above all this are the recent discussions of education goals and standards and calls for systemic education reform. The Goals 2000: Educate America Act and various related state and national initiatives contain lots of ideas about school reform that raise questions about how we finance our schools.