The term "school finance" refers to the levying of taxes to obtain revenue for our public elementary and secondary schools. For most people it brings to mind the local property tax, teacher salaries, and, perhaps, some personal memories of their own experiences in the schools. For state legislators school finance brings to mind the complex formula through which considerable amounts of tax dollars are distributed to school districts. It is apparent that school finance represents the bringing together of two of our major institutions--politics and education. This brief overview of finance reform has been written for legislators. It is intended to point to one very obvious fact--that when it comes to school finance reform, the building of adequate and equitable finance systems, the spotlight is on the state legislature even though the federal government and the courts play large roles. (Author/IRT)