The purpose of this 4-case study was to determine the significance of the effects of the recapture legislation in Texas upon the quality of schools as perceived by administrators in participating school districts, including those surrendering funds (Chapter 41) and those receiving funds (Chapter 42). The recapture provision requires districts above a designated level of property wealth to surrender excess funds to be appropriated to districts with property wealth below a designated level. The study solicited administrators’ perceptions in both district types as to whether the changes in funding have significantly affected the quality of their schools. Using University Scholastic League classifications as a guideline for size, 2 Chapter 41 districts, and 2 Chapter 42 districts, 1 small and 1 large of each type, were selected to participate. Variables included 5 indicators of schools quality that are repeatedly mentioned in literature concerning effective schools: curriculum, climate, leadership, facilities, and safety and security. A review of literature included the historical development of public school finance systems as well as studies of the effects of efforts to equalize funding upon both the financial health and academic performance of schools. A weak link or no link between funding systems and student performance or financial health was indicated. This study supported these conclusions with both Chapter 42 districts; however, there was a discrepancy between the perceptions of administrators in the two Chapter 41 districts, indicating a need for further study. The unique aspects of this study are that it solicited directly the perceptions of acting administrators and that it included administrators in districts receiving funds to determine how those funds are being used and whether they have a significant effect upon school quality.