Serves to clarify existing goals, objectives, and responsibilities related to the operation of the statewide transportation system.

Requires the office of financial management to submit initial objectives and performance measures to the legislature for its review, and to the commission, during the 2008 legislative session. The office of financial management shall submit objectives and quantitative performance measures to the legislature for its review, and to the commission for the purpose of providing input into the statewide transportation plan, during each regular session of the legislature during an even-numbered year thereafter.

Requires that, by December 1, 2007, the office of financial management shall submit a baseline report on the attainment of policy goals under RCW 47.01.012 in the 2005-2007 fiscal biennium. By October 1, 2008, beginning with the development of the 2009-2011 biennial transportation budget, and by October 1st each year thereafter, the office of financial management shall submit to the legislature and the governor an annual report on progress made towards attainment by state transportation agencies of the state transportation policy goals and objectives prescribed by statute, appropriation, and governor directive. The report must, at a minimum, include the degree to which state transportation projects and programs progress towards attainment of the policy goals set forth in RCW 47.01.012, as measured by the objectives and performance measures established under RCW 47.01.012.

Repeals RCW 47.01.370 and 47.05.051.