Research during the 1960's revealed that the benefits and burdens of public schooling were not equal. At the same time, the "taxpayers revolt" was taking place in school districts all across the country. Constitutional challenges struck down state systems of school finance in a half-dozen or so states. Fourteen states enacted substantial reforms in the 1972, 1973, and 1974 legislative sessions. The nature of these reforms, their effectiveness, and the role of state boards of education in further reform efforts, are explored in this pamphlet. (MLF)