Act 34, the School Finance Act of 1983, was legislated in Arkansas to provide financial equity for all school districts. The comparison of school equity before and after the passage of the school finance law on 14 different measures is the purpose of this paper. Equity is measured for two different years: 1982-1983, the last year before passage of the act; and 1987-1988, the most recent year with complete data. Bivariate regression is used to test the relationship between revenue per student, the dependent variable, and wealth per student, the independent variable. Pearson's product-moment correlation coefficient, slope, elasticity, and adjusted relationship values are also calculated to show changes in direction and size. Findings indicate that slightly less equity exists in Arkansas schools today than in 1982-1983, and that the school finance suit should be reopened. (LMI)