This bill authorizes the New Jersey Motor Vehicle Commission (MVC) to enter into contracts with private vendors for the marketing and sale of personalized, courtesy, or special license plates. The contracts must last a minimum of five years, with the possibility of two additional five-year renewals. The MVC is required to recover all costs associated with the implementation of the contract, and the private vendor may be required to reimburse the MVC in advance for a portion of these costs. The MVC is also granted the authority to establish fees and license plate year terms for these plates, which must be reasonable and sufficient to cover the MVC's costs.

Additionally, the bill allows the MVC to approve new designs and color combinations for the license plates sold by the private vendor, ensuring that these designs remain the property of the MVC and comply with existing laws. It explicitly prohibits the MVC from approving designs that conflict with statutory specifications for special license plates. The MVC retains the right to cancel or discontinue any license plate design if deemed necessary for the public interest. Any fees collected beyond the minimum required will be credited to the General Fund.