This document explains the main features of Federal Revenue Sharing. The publication begins by describing the historical background of revenue sharing in the United States from action taken during the Johnson administration and by the 91st Congress, the Nixon proposal for general and special revenue sharing, to the State and Local Fiscal Assistance Act of 1972. The document then summarizes the main features of the State and Local Fiscal Assistance Act giving the payment schedule through 1976, explains how the money is to be paid out, and defines the federal controls on the money spent. The publication concludes with advice about what program administrators should do to assure themselves of funding under revenue sharing. Appendixes contain the estimated first-year distribution of Federal Revenue Sharing Funds Under P.L. 92-512 for each individual State and lists of HEW regional offices and "key" agency regional personnel. (Parts of pages 5, 7, 19, 24, 25, and 26 may reproduce poorly.) (Author/DN)