Problems and practices in financing and managing research equipment are assessed, based on visits to 23 college, government, and industry laboratories and meetings with over 500 scientists, and college, government, and industry representatives. The following concerns are addressed: possible changes in federal/state laws, regulations, or policies to improve the acquisition, management, and use of academic research equipment; ways colleges might improve the way they acquire, manage, and use research equipment; possible revisions to tax incentives for industry donations of research equipment to colleges; and alternative methods of direct federal funding of research equipment. Recommendations cover the federal government, the states, the universities, debt financing by universities, and private support for equipment. Information is included on: loan subsidy programs, federal instrumentation programs, regulations for 10 states, and 20 state statutes authorizing bonds to fund college facilities. Appendices provide examples of debt financing and equipment donations, information on debt financing instruments, and data on 1953-1983 research and development expenditures at colleges by source of funds, and 1982 and 1983 fund expenditures for research equipment at colleges by science/engineering field and source of funds. (SW)