This paper examines past school finance reforms of the 1970's, current reforms in the 1980's, and future reforms in the 1990's. Fiscal inequities targeted in the reforms of the seventies resulted in major structural changes in the school finance systems of over 30 states. The reforms not only improved fiscal equity but helped increase substantially the level of dollars allocated overall to public schools. While fiscal equity remains the primary issue today, school finance reform debates also address three additional needs: program and service equity, balanced budgets, and improved school quality despite current scarce resources. Three major social trends suggest that new issues will be added to the school finance policy agenda soon. First, the shift from an industrial to an information society is substantially changing the composition of the nation's economy and the types of education needed to support its growth. Second, the leveling of public education funds, which traps school districts between rising demands and falling resources, is likely to give rise to new revenue raising schemes such as education foundations and fee-for-service activities. Third, computers, video disks, and related technologies will heavily influence the organization and structure of education practices and finance. (PB)