This bill authorizes the Chief Administrator of the New Jersey Motor Vehicle Commission to create and issue special license plates for the Lambda Theta Alpha Latin Sorority, Inc. The license plates will feature a design that includes appropriate words or a slogan and an emblem honoring the sorority. An application fee of $50 is required, along with an annual renewal fee of $10, which will be deposited into a special non-lapsing fund known as the Lambda Theta Alpha Latin Sorority, Inc. License Plate Fund. The funds collected will be used to support the organization's mission and programs after deducting administrative costs. The chief administrator is also tasked with certifying the average cost of producing these plates, with the provision that if costs exceed the application fee for two consecutive years, the program may be discontinued.

Additionally, the bill stipulates that no state or public funds will be used for the initial costs associated with the license plate program. Instead, the Northeast Regional Board of Lambda Theta Alpha or a designated entity must contribute up to $25,000 in non-public funds to cover these costs. The commission will not begin the design and production of the plates until the necessary funds and at least 500 completed applications are received. The bill includes a timeline for implementation, stating that it will remain inoperative until specific conditions are met and will expire if those conditions are not satisfied within a year.