The South Carolina Education Finance Act of 1977 aims toward equalization of public school finance in South Carolina. A major goal is the state provision of 70 percent of school funding. The bill contains three other major provisions: the Defined Minimum Program (DMP), the Index of Taxpaying Ability, and the Weighted Pupil/Base Pupil calculation. To calculate the DMP the state board of education fixes annually the content and cost of the minimum educational program to be provided each student. The Index of Taxpaying Ability clause provides that the State Tax Commission determine annually the proportion of all taxable property located in each district. That percent is used to figure the amount of money each district is expected to raise for education. Thus, districts with a higher property tax base must provide more money for education than poorer districts. The Weighted Pupil/Base Pupil calculation is used to determine the funding each district is to receive according to the program needs of each type of student. The least expensive type of student to educate is assigned the weight of one. The state used the cost of providing necessary programs to calculate other weights, up to 2.57 for visually and hearing handicapped students. These weights are multiplied by the cost of the DMP to determine the amount to be spent on each child's educational program. (Author/JM)