Authorizes creation of Lambda Theta Alpha Latin Sorority, Inc. license plates.
Impact
The bill stipulates an application fee of $50 for each license plate, in addition to the standard vehicle registration fees. There will also be an annual renewal fee of $10. The proceeds from these fees will be deposited into a specially created non-lapsing fund, which will be utilized to support projects and programs of the Lambda Theta Alpha organization. This financial model ensures that state funds are not used for the implementation of the new license plates, placing the responsibility of funding on private contributions and fees collected from applicants.
Summary
Assembly Bill A5758 proposes the authorization for the issuance of specialty license plates for Lambda Theta Alpha Latin Sorority, Inc. in New Jersey. This legislation enables the Chief Administrator of the New Jersey Motor Vehicle Commission to create and distribute these plates, which will display an emblem and a slogan honoring the sorority. To initiate the production of these plates, the Chief Administrator must collaborate with the Northeast Regional Board of Lambda Theta Alpha to finalize the design and color scheme.
Contention
The legislation outlines specific conditions before the plates can be issued: at least 500 completed applications must be submitted along with the necessary fees to cover the program's initial costs, not to exceed $25,000 contributed by the Northeast Regional Board of Lambda Theta Alpha. If these conditions are not met within a specified timeframe, the initiative could be expired. The requirements emphasize the necessity for community support for this initiative, potentially leading to discussions around the feasibility of obtaining sufficient interest and funds for ongoing operations.