This description of the Tennessee equalization plan consists of (1) a description of Tennessee's current public school finance program; (2) recommendations for change in the existing program; (3) a description of the conformance of the recommended changes to the equity guidelines developed by the United States Commissioner of Education pursuant to Section 842 of Public Law 93-380; and (4) a brief summary report of major activities, procedures, and products related to the development of the equalization. The recommended changes are intended to be helpful to all those who make or help make policy relating to the financing of the public schools in Tennessee, including the general public. (Author/IRT)