This bill authorizes the Chief Administrator of the New Jersey Motor Vehicle Commission to issue special license plates for the Lambda Theta Alpha Latin Sorority, Inc. The plates will feature a design that includes appropriate words or a slogan and an emblem honoring the sorority, with the design and color scheme selected in consultation with the Northeast Regional Board of Lambda Theta Alpha. An application fee of $50 and an annual renewal fee of $10 will be required, with the additional fees deposited into a special non-lapsing fund known as the Lambda Theta Alpha Latin Sorority, Inc. License Plate Fund. This fund will be used to support the organization's mission and programs after deducting administrative costs.

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 program until the necessary funds and at least 500 completed applications for the plates are received. The provisions of the bill will take effect only after these conditions are met and will expire if not fulfilled within a specified timeframe.