State legislation and new funding mechanisms have changed the traditional landscape of school financing. This publication contains papers by presenters at the annual National Center for Education Statistics (NCES) State Data Conference. Following the foreword, acknowledgments, introduction, and overview, the papers include: (1) "Testimony to the Subcommittee on Education, Arts, and Humanities of the Committee on Labor and Human Resources, U.S. Senate" (G. Alan Hickrod); (2) "Adequacy Issues in Recent Education Finance Litigation" (R. Craig Wood); (3) "A Report on Educational Facilities" (David S. Honeyman); (4) "Defining and Measuring Opportunity to Learn" (Andrew C. Porter); (5) "The $300 Billion Question: How Do Public Elementary and Secondary Schools Spend Their Money?" (Lawrence O. Picus and Minaz Fazal); (6) "Education Finance Indicators: What Can We Learn from Comparing States with Nations?" (Thomas M. Smith); and (7) "International Comparison of Teacher Salaries and Conditions of Employment" (E. Howard Nelson). References accompany each chapter. Eighteen tables and five figures are included. (LMI)