This bill establishes a framework for the periodic review of new statutory state spending programs in Washington. It mandates that every new spending program must include an expiration date not exceeding ten years from its effective date, and any amendments that modify or expand the program will not extend this expiration unless explicitly stated. The bill defines a "new statutory state spending program" as any program projected to exceed $1,000,000 in state expenditures in its first full fiscal biennium and not self-supported by fees, which will be subject to a state spending performance statement detailing its legislative purpose and measurable metrics for effectiveness.

Additionally, the bill requires the joint legislative audit and review committee to conduct reviews of these new spending programs based on a developed schedule, considering various factors such as public policy objectives, evidence of effectiveness, and fiscal impacts. The committee will provide recommendations on whether to continue, modify, or terminate the programs based on their performance against the established metrics. If a program lacks the required performance statement, it is presumed to be intended for expiration on its scheduled date. The bill creates a new chapter in Title 43 RCW to encompass these provisions.