This bill amends New Jersey's laws regarding new motor vehicle dealer licenses by introducing provisional licenses for applicants who are in the process of meeting specific requirements, such as obtaining a franchise agreement or installing a permanent sign. The Chief Administrator of the New Jersey Motor Vehicle Commission is authorized to issue these provisional licenses, which are valid for 90 days and can be extended for an additional 90 days without any extra fee. The bill also sets forth requirements for both new and used motor vehicle dealers regarding their places of business, including minimum space requirements and the necessity for an exterior sign that adheres to local ordinances. Additionally, it mandates criminal background checks for applicants, disqualifying those with convictions for fraud or misrepresentation in motor vehicle transactions.

Moreover, the bill modifies the criteria for obtaining a new motor vehicle dealer license by requiring applicants to establish a place of business primarily for servicing or displaying vehicles, rather than for both purposes as previously mandated. It allows for the use of attached or separate spaces on the same property or an off-site facility for servicing. The licensing fee is set at $200 for initial applications and renewals, with provisions for extensions for good cause. The bill clarifies that leasing dealers are not considered engaged in buying or selling vehicles unless they sell to consumers other than the lessee, necessitating a used car dealer license in such cases. It also updates the definitions related to new motor vehicle dealers and franchisors, with the changes taking effect immediately for all relevant license applications.