This document is a history of Wisconsin's equalization aid formula, embodying all the formula studies conducted since 1947, along with all the actions taken by Wisconsin legislatures and governors since 1927. The introduction provides the constitutional and statutory rationale for state education aid, and lists the committees that have studied the general state aid formula and whose recommendations have influenced state funding. These committees, their findings and recommendations, and consequent legislation are described chronologically in the next seven chapters, entitled as follows: (1) "1947-55: The Commission on Improvement of the Educational System and Chapter 600"; (2) "1955-63: The Wisconsin White House Conference"; (3) "1963-67: The Committee of 25"; (4) "1967-69: Task Force on Local Government Finance and Organization in Wisconsin"; (5) "1969-72: The Governor's Commission on Education"; (6) "1972-76: The Governor's Task Force on Educational Financing and Property Tax Reform"; and (7) "1976-82: The Commission on State-Local Relations and Financing Policy." Chapter 8 summarizes the history of Wisconsin's equalization formulas and the changes in the general state aid formula. Appendix A describes the Tax Increment Law of 1975, and Appendix B provides the text of the Wisconsin Supreme Court Decision, "Buse vs. Smith," declaring negative-aid provisions unconstitutional. (TE)