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, including those available for auction. 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 these contracts, and may require the vendor to prepay up to half of the anticipated costs. Additionally, the MVC is granted the authority to establish fees and license plate year terms for these plates, which must be reasonable and sufficient to cover the costs of implementation and enforcement.

The bill also 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. Furthermore, the MVC retains the right to cancel or discontinue any license plate design if deemed necessary for the public interest. Any excess fees collected beyond the minimum required will be credited to the General Fund.