This bill honors the service and sacrifice of James Leonard Francisco and Walter James Schmidt by designating a portion of State Highway Route 35 in Laurence Harbor as the "James Francisco and Walter Schmidt Memorial Roadway." Mr. Francisco, a Purple Heart recipient, was killed in action during the Vietnam War, while Mr. Schmidt, who received both a Silver Star and a Purple Heart, was also killed in action in South Vietnam. The bill recognizes their contributions to the country and the state of New Jersey.

The legislation 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.