Describes how most state education aid formulas work to equalize resources between poor school districts and wealthy school districts. Explains the resurgence of interest in school finance, why state school funding systems are under legal attack, and asks whether money enhances the achievement of students. (SR)

Finds that school property taxes have been substantially reduced under the new Michigan school finance system and have been replaced with new state revenues, although it is uncertain whether these new state dollars will be available in a recession. Finds that substantial disparities remain between Michigan school districts in revenues and…

Presents the arguments, pro and con, on the use of the local property tax to finance the schools. A bibliography is appended. (SJL)

Reports on a study that examined the effect of a tuition tax credit for parents who send their children to private schools on public school enrollment. Indicates that a substantial number of students would leave the public schools with the passage of tuition tax credit legislation. (SRT)