The commission shall make a comprehensive, detailed and complete investigation and study of all the factors contributing to a sound highway policy for the state, including, but not limited to, the adequacy of existing highways, the need for additional highways in the future, the use of available funds, the need for additional funds, the adequacy of present taxes for highway purposes, the need for new or increased taxes for highway purposes, weights and lengths of trucks and wear and tear caused by the use of trucks and buses upon public highways in the state, toll roads and turnpikes, the present distribution of taxes for highway purposes, and the need for revision thereof. For the purposes of this act, highways shall include trunk highways, state aid roads, county roads, county aid roads, town roads, and streets and roads within municipalities.
The commission shall make a report to the legislature not later than March 15, 1954, setting forth its findings relating to the distribution of the proceeds of the tax upon motor vehicles as a result of such investigation and study and not later than December 15, 1954, a final and complete report setting forth its findings.