Teachers are the largest component of school spending, with more funding being allocated to teacher salaries than to any other education expense (Loeb, Miller, and Strunk 2009). Teacher and staff salaries and benefits consume up to 80 percent of current expenditures (Aud et al. 2010). Yet, there is not a wealth of data on teacher compensation. National data on teachers are limited to periodic sample surveys or to simple counts at the district or school level. Comparable teachers' compensation data across districts and states are needed in order to address a wide variety of education policy issues. In response to the need for individual teacher-level data to address these and other policy issues, the National Center for Education Statistics (NCES) developed the Teacher Compensation Survey (TCS), an administrative records universe survey that collects total compensation, teacher status, and demographic data about all public school teachers from multiple states. In 2007, NCES launched the pilot TCS data collection, with seven states volunteering to provide administrative records for school year (SY) 2005-06. In the second year of the data collection, the TCS expanded to 17 states reporting SY 2006-07 data. The TCS data collection is a research and development effort to see if it is possible to collect and publish teacher-level data from the administrative records residing in state education agencies (SEAs). This report provides an overview of the TCS data collection for SY 2006-07; a comparison of state administrative records of the TCS with other sources of data; and a discussion of the data availability and quality, as well as limitations, of the TCS. This report also includes findings and descriptive statistics for SY 2006-07. Appendices include: (1) Glossary; (2) Data Plan Responses; and (3) State Notes. (Contains 28 tables, 4 figures, 1 exhibit, and 8 footnotes.)