This paper traces the development of school finance reform pressures in Wisconsin from pressure in 1967 for property tax reform to 1973 legislative reform proposals. The 1973 proposal is designed to provide further equalization of educational opportunity to all Wisconsin students and to guarantee adequate financial resources to provide these opportunities to students in all school districts in the State regardless of the district property tax base. The proposal would increase the State's financial sharing in local school district costs, provide for special needs grants emphasizing early childhood education, fulfill a constitutional mandate to establish reasonably uniform districts, and establish minimum educational standards. The main features of the finance reform proposal described in this paper include provisions for raising State and local school revenue; local tax relief; the effect of the proposal toward equalizing the revenue raising ability of school districts; the principal aid program; and separate State aid programs for pupil transportation, libraries, special education, languages, driver education, lunch programs, aid to low socioedonomic status children, hiring psychologists and social workers, education service agencies, and for social security contributions paid by the employer. The document also considers the effect of the proposed legislation on selected school districts and examines its legal implications. (Author/DN)