This bill authorizes the Chief Administrator of the New Jersey Motor Vehicle Commission to issue special license plates for active and former members of the United States Coast Guard, as well as their spouses and parents. The license plates will feature the United States Coast Guard Seal and a design selected by the Chief Administrator in consultation with the Coast Guard. Applicants must pay a $50 fee upon application and an annual renewal fee of $10. The additional fees collected will be deposited into a newly created United States Coast Guard License Plate Fund, which will be appropriated annually to the Coast Guard after covering the program's administrative costs.

The bill stipulates that no state or public funds will be used for the initial costs of implementing the license plate program. Instead, the Coast Guard or a designated entity must contribute up to $25,000 to cover these costs. The Motor Vehicle Commission is prohibited from proceeding with the program until the necessary funds and at least 500 completed applications are received. The provisions of the bill will not take effect until 13 months after these conditions are met, and it will expire if the requirements are not satisfied within 12 months of enactment.