The coalition represents more than one in 10 Texas districts. Its lawsuit comes after lawmakers slashed $4 billion in public school funding this summer to close a massive budget gap.
The Texas Education Agency and Texas comptroller are among the defendants named in the lawsuit. Republican presidential candidate and Gov. Rick Perry is not.
Texas Education Agency spokeswoman Debbie Ratcliffe says the agency is still reviewing the lawsuit filed Monday.
The lawsuit says a 2006 school finance overhaul that froze state aid to some districts arbitrarily benefited some rather than others.