NJ A5355

Authorizes the New Jersey Motor Vehicle Commission to issue special license plates honoring Phi Beta Sigma Fraternity, Inc. and Zeta Phi Beta Sorority, Incorporated, with design and color scheme selected in consultation with both organizations' leadership

Requires a $50 application fee plus a $10 annual renewal fee, with proceeds deposited into a special "Phi Beta Sigma and Zeta Phi Beta License Plate Fund" to support both organizations' missions and programs

Prohibits use of state or public funds for initial implementation costs; requires the organizations to contribute up to $25,000 in non-public funds to cover startup expenses including design, production, and computer programming

Program will not begin until the organizations provide at least 500 completed applications and the required startup funding to the commission

Chief administrator may discontinue the program if the average cost per plate exceeds $50 for two consecutive fiscal years; the bill expires if funding and application requirements are not met within 12 months of enactment