Spending on K-12 education across the United States and across local school districts has long been characterized by great disparities—disparities that reflect differences in property wealth and tax rates. For more than a quarter-century, reformers have attempted to reduce these differences through court challenges and legislative action. As part of a broad study of education finance, the committee commissioned eight papers examining the history and consequences of school finance reform undertaken in the name of equity and adequacy. This thought-provoking, timely collection of papers explores such topics as: What do the terms "equity" and "adequacy" in school finance really mean?How are these terms relevant to the politics and litigation of school finance reform?What is the impact of court-ordered school finance reform on spending disparities?How do school districts use money from finance reform?What policy options are available to states facing new challenges from court decisions mandating adequacy in school finance?When measuring adequacy, how do you consider differences in student needs and regional costs?Table of ContentsFront MatterIntroduction1 Concepts of School Finance Equity: 1970 to the Present2 School Finance Litigation in the Name of Educational Equity: Its Evolution, Impact, and Future3 The Impact of Court-Mandated School Finance Reform4 Court-Mandated School Finance Reform: What Do the New Dollars Buy?5 The Politics of School Finance in the 1990s6 Educational Adequacy and the Courts: The Promise and Problems of Moving to a New Paradigm7 Enabling "Adequacy" to Achieve Reality: Translating Adequacy into State School Finance Distribution Arrangements8 Performance Standards and Educational Cost Indexes: You Can't Have One Without the OtherBiographical Summaries of ContributorsIndex