Declares that the legislature is temporarily suspending the state expenditure limit during the biennia in which the legislature is phasing in its Article IX obligation to amply fund education and for the ensuing biennium.

Requires the economic and revenue forecast council, in consultation with the state expenditure limit committee, to prepare draft legislation for introduction in the 2016 legislative session that revises the state expenditure limit to synchronize the requirements of this act with the four-year balanced budget requirement under RCW 43.88.060 and the state budget outlook under RCW 82.33.060.