This study examines the impact of school finance legislation brought on as the result of the Edgewood court decisions. It examines revenue neutrality, revenue equity, and their impact on student performance. Analyses of revenue equity conducted for this report indicate that equity is improved, especially when compared to those conducted in 1976 and 1986. Analyses that do not account for differences in educational costs, either due to educational need or to geographic differences in the cost of education, show a more equitable system than analyses that do account for these differences, suggesting an area for improvement in the state funding system. Per pupil property wealth has become less strongly associated with student performance as measured by the Texas Assessment of Academic Skills, suggesting that these reforms may have had a positive impact on student learning among property poor school districts.