The Local Control Funding Formula (LCFF), signed into law by Governor Jerry Brown on July 1, 2013, represents an historic and path-breaking shift for California, the first comprehensive change in the state's education funding system in 40 years. Each district now receives a base funding allocation and, in keeping with the law's equity focus, added dollars--supplemental and concentration grants--to increase programs and services for low-income students, English learners, and foster youth. The LCFF empowers school districts to determine how to apportion these dollars to best meet the needs of their students through a process of stakeholder engagement. The law requires each district to develop a kind of fiscal strategic blueprint, called a Local Control and Accountability Plan (LCAP), based on eight state-established educational priorities. Finally, the LCFF establishes a new state accountability system and substantially expands roles for County Offices of Education (COE). This paper lays out results of four years of LCFF implementation research in five key areas: (1) responses to the new law; (2) resource allocation; (3) stakeholder engagement; (4) LCAPS; and (5) COEs. The paper relies largely on a synthesis of LCFF implementation research conducted, beginning in 2013, by the Local Control Funding Formula Research Collaborative (LCFFRC), a group of experienced policy researchers that has come together to study the new law. [This report was written with the assistance of Laura Tobben and Eileen Behr.]