This study looks at the relationship between district wealth and revenues available for education in Illinois using a "conditional" conception of wealth neutrality that holds constant the operational tax rate. Data used were demographic data of Illinois school districts. An analysis of beta weights suggested an undesirable relationship between wealth and expenditures in elementary and high school districts. Also, when Illinois districts are examined using the conditional equity approach, it was revealed that in the years 1976-1979, all types of districts actually retreated from a notion of equity. The data suggest that when using only the simple neutrality model, some of the relationship between wealth and expenditures is hidden. Specifically, in elementary districts the conditional model shows continued movement away from equity since 1973-74 and the simple model shows movement toward equity in 1976-77 and away from equity in 1978-79. (Author/JM)