This bill designates a portion of State Highway Route 35 in Laurence Harbor as the James Francisco and Walter Schmidt Memorial Roadway to honor the service and sacrifice of two local veterans. James Leonard Francisco, who served in the Vietnam War and was killed in action, is remembered as a Purple Heart recipient. Walter James Schmidt, also a Vietnam veteran, received a Silver Star for gallantry before his death in combat. The bill aims to commemorate their contributions to the country and the state of New Jersey.

In accordance with the Department of Transportation's policies, the bill stipulates that no state or public funds will be used for the production, purchase, or erection of the memorial signs. Instead, the Commissioner of Transportation is authorized to accept financial assistance from private sources to cover these costs. Additionally, the Department of Transportation cannot proceed with the implementation of the memorial designation until a financial agreement is established with a responsible party for the associated expenses.