Authorizes $2.385 billion in transportation bonds with terms up to 30 years and final maturity by June 30, 2065; at the Governor's request, directs the State Treasurer to issue them as general obligations or as special obligations payable solely from the Transportation Fund and excluded from certain debt-limit calculations.

Provides $1.5 billion to the Department of Transportation's Highway Division for construction and reconstruction of municipal ways, including up to $500 million allocated by local road mileage; permits municipal pre-spending upon preliminary notice and requires reimbursement within 30 days of request, subject to available funds and certification that eligible work is complete. Invests $885 million in non-federally aided bridge and pavement lifecycle asset management, small bridge and culvert modernization (spans 20 feet or less), and congestion and safety projects, covering engineering, design, climate adaptation and resilience, bicycle and pedestrian accommodations, and matching grants to municipalities for surface condition repairs and municipally owned small bridges and culverts.

Requires the Department of Transportation, beginning June 1 each year, to disburse to every city and town, on a quarterly basis, funds for road and bridge construction, maintenance, and repair projects approved under existing law or any related capital appropriation. Caps each quarterly payment at no more than one-quarter of the municipality's annual allotment and directs the Department to issue implementing regulations.

Requires the Commissioner to allocate department expenditures for maintaining, repairing, improving, and constructing municipal ways and bridges, and other eligible municipal projects, by a fixed formula: 69.334% based on road mileage and 15.333% each on population and employment.

Authorizes $1.185 billion in transportation capital investments financed with bonds of up to 30 years maturing no later than June 30, 2065, and authorizes the Governor to direct the State Treasurer to issue the bonds as general obligations or as special obligations payable from transportation funds and excluded from certain statutory debt limits.

Directs $500 million for a bridge and pavement lifecycle asset management program covering non-federally aided roadways and bridges and the nonparticipating share of federally aided projects-eligible for engineering, permitting, climate resilience, and bicycle and pedestrian accommodations-with municipal matching grants and consideration of resilient, lifecycle design; provides $200 million for culvert and small-bridge (20 feet or less) modernization in consultation with the Secretary of Energy and Environmental Affairs with municipal grants; and funds $185 million for congestion and safety projects, including intersection upgrades, rail grade crossings, shared-use paths, ADA-compliant sidewalks and crossings, traffic signals and technology, and roadway reconstruction and repairs.

Appropriates $300 million for construction and reconstruction of municipal ways under Department of Transportation procedures, allows pre-spending based on preliminary notices by March 1, requires reimbursement within 30 days of request subject to available funds, allocates up to $100 million by local road mileage, encourages long-term capital plans, and requires municipal certification of completed eligible work.

Authorizes $1.185 billion in transportation bonds, allocating $500 million for a bridge and pavement lifecycle asset management program (including engineering, design, permitting, climate resilience, bicycle and pedestrian accommodations, municipal matching grants, and consideration of lifecycle asset management and resilient design), $300 million for construction and reconstruction of municipal ways, $200 million for culvert and small bridge modernization (spans 20 feet or less) in consultation with the Secretary of Energy and Environmental Affairs with municipal matching grants, and $185 million for congestion- and safety-focused capital projects such as intersection upgrades, rail grade crossings, shared-use paths, ADA-compliant sidewalks and crossings, traffic signals and technology, and roadway reconstruction and repairs.

Requires the Department of Transportation, Highway Division, to administer the municipal ways program, issue preliminary allocation notices by March 1 that allow municipal spending without further appropriation, reimburse within 30 days subject to available funds, encourage long-term capital plans, allocate in part by local road mileage, and rely on municipal certification of eligible, completed work.

Empowers the State Treasurer, at the Governor's request, to issue bonds with terms up to 30 years and final maturity no later than June 30, 2065, with debt service payable from the General Fund or the Commonwealth Transportation Fund; designates the bonds as general obligations but permits issuance as special obligation bonds payable solely from the Commonwealth Transportation Fund and excluded from statutory debt limit calculations, subject to specified financial considerations.

Creates a Chapter 90 Commission to evaluate the sufficiency, effectiveness, and equitability of the municipal infrastructure reimbursement formula for vehicle and pedestrian maintenance and capital projects, including whether it keeps roads and pedestrian facilities in a state of good repair. Requires consideration of regional, geographic, socioeconomic, and population density differences and communities' fiscal capacities, and directs a report with recommendations to adjust the formula as needed within 365 days.

Establishes the commission at nine members, chaired by the Secretary of Transportation or designee, including two community representatives named by the Massachusetts Municipal Association (one rural, one suburban), one by the Metropolitan Area Planning Council, one by the Massachusetts Association of Regional Planning Agencies from a gateway city, one by the Mass. Highway Association, and three appointed by the Governor.