(a) The board of directors of the Massachusetts Department of Transportation shall develop and publish a comprehensive assessment of the current capacity, safety conditions and the state of good repair of the commonwealth’s transportation system, including all modes of surface transportation. The assessment shall analyze the current planned operating and capital expenditures of the department, including the Massachusetts Bay Transportation Authority and the regional transit authorities, and shall consider and state the baseline of the surface transportation revenues currently available and projected to be available from all sources in all modes of surface transportation, regardless of the fund in which they are kept, from fiscal year 2016 through fiscal year 2026. The baseline assessment shall: (i) project spending for the maintenance of the existing system, the completion of all expansion projects the commonwealth is legally bound to complete and capital improvements and projects included in the fiscally-constrained, long-range transportation plans mandated by federal law; (ii) consider and incorporate any additional expenditures necessary to implement the most recent capital plans of the Massachusetts Bay Transportation Authority and the Massachusetts Department of Transportation; and (iii) shall include an assessment of commonwealth debt and whether transportation spending requirements are projected to result in encroachments on the commonwealth’s current debt policies, including the debt limit established under section 60A of chapter 29 of the General Laws, and the administrative bond cap and the limit recommended by the commonwealth’s annual debt affordability analysis that is included in the Governor’s annual budget recommendation.   

(b) The board shall recommend both operational and governance reforms, cost savings and potential new revenue sources pertaining to both operating and capital funds in fiscal year 2016 through fiscal year 2026 to fully address any deficiencies in capacity, safety or state of good repair identified in its assessment. The recommendations shall also include revenues necessary for any expansions to the surface transportation system required to address identified capacity constraints. The board shall also consider whether the recommendations under this subsection are projected to impact the commonwealth’s current debt policies, including the debt limit established under said section 60A of said chapter 29, and the administrative bond cap and the limit recommended by the commonwealth’s annual debt affordability analysis that is included in the Governor’s annual budget recommendation.  

(c) The assessment set forth in subsection (a) and the recommendations set forth in subsection (b) shall be developed after holding at least 6 public hearings in various regions throughout the commonwealth. The Massachusetts Department of Transportation may provide staffing and logistical support to assist the board as the board develops the assessment and recommendations. The assessment, recommendations and drafts of any legislation necessary to carry the recommendations into effect shall be published on the website of the Massachusetts Department of Transportation, delivered to the governor and the secretary of transportation and filed with the clerks of the house of representatives and the senate who shall forward the same to the chairs of the house and senate committees on ways and means, the chairs of the house and senate committees on bonding, capital expenditures and state assets, the house and senate chairs of the joint committee on transportation and the house and senate chairs of the joint committee on revenue. The board shall vote on, publish and deliver the assessment and recommendations not later than 6 months from the effective date of this section.