The rationales for various state-finance distribution formulas, from 1896 to the present, are explained along with the rationales of the lawsuits questioning their validity. Chapter 1 describes attempts at financial equity from 1896 to the 1950s. Chapter 2 examines the current status of financing public education, emphasizing a state's obligation to provide equal educational opportunity despite the vast difference in the distribution of wealth from one district to another. Chapter 3 examines state and local revenues and the equity for taxpayers and students. Chapter 4 explains the types of distribution formulas, the state methods of aiding compensatory education, and state cost-equalization schemes. Chapter 5 explains statistical techniques used to estimate the degree of equity achieved. Chapter 6 shows the rationales used to challenge a state's financial formula. Chapter 7 describes specific lawsuits from "Serrano v. Priest" to "San Antonio v. Rodriguez." Chapter 8 examines contemporary challenges since "Rodriguez." Chapter 9 surveys current litigation strategies that have been successful. Chapter 10 offers predictions for future educational finance issues. A useful appendix includes each state's constitutional wording for education and equity concerns. (RKJ)