This bill amends R.S.39:3-27 to exempt public institutions of higher education from the motor vehicle registration fee for vehicles not used for pleasure or hire. The new legal language specifies that these institutions, as defined in N.J.S.18A:62-1, will be included among other exempt entities such as government agencies, volunteer organizations, and certain nonprofit organizations. The bill also clarifies the process for the registration of these vehicles, allowing for special registration certificates and number plates to be issued, which must be returned upon expiration or nonrenewal.

The legislation aims to alleviate financial burdens on public institutions of higher education by extending the existing exemptions already available to various state and local entities. This change is intended to support these institutions in managing their operational costs more effectively. The bill is set to take effect immediately upon passage.