This paper describes funding formulas for the new Foundation School Program in Texas enacted under the Education Opportunity Act (H.B. 72), raises issues that have accompanied its first year of implementation, and provides preliminary data to compare prior and existing law. The state finance system, which previously distributed state aid according to a district's allotment of personnel units, was changed to a weighted pupil system under the new law. Topics discussed include the price differential index, small district adjustments, weighted pupils, results of the Texas program cost differential study, the effects of weighting students by special program area, the transportation allotment, allotments for educational improvement and career ladders, and the state and local share of program costs. The next section is a discussion of fully funded state programs: the Equalization Transition Fund, the Enrichment Equalization Allotment, and the Experienced Teacher Allotment. The final section discusses the results of a Fall 1985 survey of Texas school districts. References are provided, along with 13 tables providing the numerical data on which the discussion is based. Supplementary information is provided in six appendixes. (TE)