The State Higher Education Finance (SHEF) report is produced annually by the State Higher Education Executive Officers Association (SHEEO) to broaden understanding of the context and consequences of public policy decisions in each state that contribute to public higher education funding levels and funding distributions across states and nationally. The SHEF report supplies important context and trend analysis to help inform state postsecondary finance policy decisions. SHEF provides the earliest possible review of state and local support, tuition revenue, and enrollment trends for the most recently completed fiscal year. This year's report focuses on FY 2019, which for most states ran from July 1, 2018, through June 30, 2019. Sections include: (1) Sources and Uses of State Funding; (2) Distribution of Revenue: Wave Charts and Student Share; (3) State and National Trends by Metric; and (4) State Effort and Capacity to Fund Higher Education. [A fully interactive version of this report is available on the publisher's web site (https://shef.sheeo.org/), including data downloads, visualization tools, and technical documentation. For "State Higher Education Finance FY 2018," see ED598638.]