This bill establishes a Cold War medal to be awarded by the Governor of New Jersey to veterans who are residents of the state or were residents at the time they began their military service. To qualify for the medal, veterans must have been honorably discharged after serving a minimum of 180 days during the Cold War, defined as the period from September 2, 1945, to December 26, 1991. The bill stipulates that only one medal may be awarded per individual, with provisions for replacement in cases where the medal is lost or damaged without the recipient's fault. The Adjutant General or their designee will determine eligibility, and the medal can also be awarded posthumously or to those missing in action, with appropriate representatives able to apply on their behalf.

Additionally, the bill creates a non-lapsing fund within the Department of the Treasury, known as the Cold War Medal Fund, to support the design, manufacture, and distribution of the medal. This fund will receive monetary donations and any interest earned, ensuring dedicated resources for the medal's production. The act is set to take effect six months after its enactment, although the Department of Military and Veterans Affairs is authorized to take necessary administrative actions in advance to facilitate implementation.