This bill establishes a new registration process for street rods and custom motor vehicles in New Jersey. It defines a street rod as a vehicle manufactured before 1948 or designed to resemble such a vehicle, while a custom vehicle is defined as one that is at least 25 years old or resembles a vehicle of that age, both of which must have been altered from their original design. Owners of these vehicles must certify that they will not be used for general transportation but may be used for exhibitions, parades, and similar activities. The chief administrator of the Motor Vehicle Commission will issue certificates of ownership and special license plates for these vehicles, which will include the terms "Replica-Street Rod" or "Replica-Custom Motor Vehicle" prominently displayed.

Additionally, the bill exempts street rods and custom vehicles from regular inspection requirements and from needing specific equipment that was not mandated under state law at the time of their manufacture. It also allows these vehicles to be equipped with blue dot tail lights, defined as a red lamp with a blue or purple insert. The bill includes a $50 application fee for the special license plates, with an annual renewal fee of $10. The chief administrator will collaborate with the National Street Rod Association to design the license plates, ensuring they reflect the unique nature of these vehicles.