Oregon's Education Act for the 21st century sets academic and performance standards for all students statewide. The implementation of statewide standards entails a major change from a time-based to a standards-based educational system, and will require that all students achieve the performance standards for each curricular area. This report to the Governor's Quality Education Task Force explores the implications and realities of implementing educational reform. The report focuses on each of the following areas: academic content standards, performance standards, and opportunity-to-learn standards. It also highlights key factors that affect student learning. To give all students adequate opportunity to learn, the Oregon Association of School Executives School Funding Coalition recommends: (1) smaller class sizes; (2) more training and support for teachers; (3) expansion of instructional hours and days; (4) adequate, up-to-date learning materials and tools; (5) sufficient staffing; (6) additional funding to develop strong educational leadership; and (7) investment in school infrastructure. Discussion is needed to determine a shared vision for public education in Oregon. The report also offers specific recommendations for each of the three types of standards. (LMI)