This paper uses the year 1972-73 as a base line in evaluating the progress of Illinois toward certain "equity goals." In determining the equity goals, two dimensions are studied--disparity and wealth neutrality. One measure of disparity is the permissible variance in school district expenditures expressed in the coefficient of variation, another is the McLoone index. Two different calculations were also made using the concept of fiscal neutrality or wealth neutrality. One calculation uses the Gini index, the other the simple regression of expenditures on a specification of wealth. The results of the calculations are presented in charts and in appendices. Subject to the limitations identified, the general finding seems clear. For four years the basic legislation passed in 1973 and the substantial increase in state aid necessary to fund that reform were successful in moving Illinois toward less expenditure disparity between school districts and greater wealth neutrality. However, in the last two years a reversal has taken place. The reversal has caused all the gains to be lost with regard to expenditure disparity in unit districts and elementary districts, and some of the gains to be lost with regard to wealth neutrality. (Author/IRT)