Montana's House Bill No. 28, an effort to equalize school funding among Montana public school districts, is described in this report. Included are: the study resolution; summary of committee recommendations; history of the school funding lawsuit and legislative reactions; explanations of elements of the new school funding mechanism, changes in revenue sources, other components of the bill, and equalization of transportation and facility funding; and related study topics. Appendices contain a chart showing the general fund structures for 1988 and 1991 and a brief paper explaining the oil and gas severance tax corrections bill. (57 references) (LMI)