NJ A5756

Authorizes the New Jersey Motor Vehicle Commission to issue specialty license plates honoring Lambda Theta Phi Latin Fraternity, Inc., with design and color scheme selected by the Chief Administrator in consultation with the fraternity's North Atlantic Regional Vice President

Requires a $50 initial application fee plus a $10 annual renewal fee, with proceeds deposited into a dedicated "Lambda Theta Phi Latin Fraternity, Inc. License Plate Fund" to support the organization's mission and programs

Prohibits use of public funds for initial implementation costs; requires the fraternity to contribute up to $25,000 in non-public monies and submit at least 500 completed applications before the program begins

Allows the Chief Administrator to discontinue the license plate program if the average cost per plate exceeds $50 for two consecutive fiscal years

Bill expires if the required applications and initial funding are not provided within 12 months of enactment