This paper discusses four arguments for full State funding of schools: (1) the State is the logical and legal governmental unit to guarantee equal educational opportunity and program adequacy, (2) the State can command revenues through a variety of taxes whereby districts are generally limited to property taxes, (3) students in sparsely settled school districts and those of low socioeconomic levels would receive better programs of curricular offerings, and (4) efficiency and economy in the collection and distribution of tax revenues would eliminate the numerous collection and assessment offices at local levels. After pointing out several administrative weaknesses in these arguments, the author concludes that the idea of full State funding has not yet come of age. (Author/JF)