This bill authorizes the creation of special Borinqueneers license plates in New Jersey to honor the 65th Infantry Regiment of the United States Army, known as the Borinqueneers. The Chief Administrator of the New Jersey Motor Vehicle Commission will issue these plates upon proper application, which must include a $50 application fee and an annual renewal fee of $10. The design of the plates will feature the words "The Borinqueneers" along with an image representing the regiment, with the design and color scheme selected in consultation with the Commissioner of the Department of Veterans Affairs. A special non-lapsing fund, the Borinqueneers License Plate Fund, will be established to collect the fees, which will be used to support programs benefiting veterans.

The bill stipulates that state or public funds cannot be used for the initial costs associated with the Borinqueneers license plate program. Instead, a designated individual or entity from the Department of Veterans Affairs must contribute up to $25,000 to cover these initial costs. The commission will not begin the program until this funding is secured and at least 500 completed applications for the plates are submitted. The bill also includes provisions for the chief administrator to certify the average cost of producing the plates annually, with the possibility of discontinuing the program if costs exceed the application fee for two consecutive years. The bill will take effect only after the necessary conditions are met and will expire if not fulfilled within a specified timeframe.