Finds that state agencies have established missions, goals, and objectives to aid in self-assessment and budget development. Legislators need key performance measures that help them assess the degree to which the state is achieving the results citizens need from their government. To accomplish this, both legislative and executive policymakers require quantifiable, objective data that are measurable over time in order to gauge whether progress is being made toward the state's goals. Specifically, budget managers and the legislature must have the data to move toward better statewide results that produce the intended public benefit. In addition, reliable data on valid performance measures for the state's policy priorities will help legislative and executive policymakers make better budgeting decisions.

Provides that, by October 1st of each odd-numbered year, beginning in 2007, the office of financial management shall ensure that current key performance measures are made available to the legislative fiscal committees under RCW 43.88.030. The key performance measures are subject to legislative review as provided in this act.

Requires the legislative fiscal committees, individually or jointly during the regular session in each even-numbered year, beginning in 2008, to adopt key performance measures during an executive session and shall forward these to the office of financial management for inclusion in the office of financial management performance measure data base.

Requires the office of financial management to maintain data on progress toward meeting key performance measures. The office of financial management shall make these data available to the legislative evaluation and accountability program committee.