  We present Spitzer photometric (IRAC and MIPS) and spectroscopic (IRS low
resolution) observations for 314 stars in the Formation and Evolution of
Planetary Systems (FEPS) Legacy program. These data are used to investigate the
properties and evolution of circumstellar dust around solar-type stars spanning
ages from approximately 3 Myr to 3 Gyr. We identify 46 sources that exhibit
excess infrared emission above the stellar photosphere at 24um, and 21 sources
with excesses at 70um. Five sources with an infrared excess have
characteristics of optically thick primordial disks, while the remaining
sources have properties akin to debris systems. The fraction of systems
exhibiting a 24um excess greater than 10.2% above the photosphere is 15% for
ages < 300 Myr and declines to 2.7% for older ages. The upper envelope to the
70um fractional luminosity appears to decline over a similar age range. The
characteristic temperature of the debris inferred from the IRS spectra range
between 60 and 180 K, with evidence for the presence of cooler dust to account
for the strength of the 70um excess emission. No strong correlation is found
between dust temperature and stellar age. Comparison of the observational data
with disk models containing a power-law distribution of silicate grains suggest
that the typical inner disk radius is > 10 AU. Although the interpretation is
not unique, the lack of excess emission shortwards of 16um and the relatively
flat distribution of the 24um excess for ages <300~Myr is consistent with
steady-state collisional models.
