Authorizes special Support Our Veterans license plate with proceeds supporting New Jersey homeless veteran's centers.
The funds raised through the sale of these license plates will go into a dedicated, non-lapsing fund known as the 'Support Our Veterans License Plate Fund.' This account will specifically support services provided by the Veterans Haven Council under the New Jersey Department of Military and Veterans' Affairs. Through this mechanism, state law is amended to create a new revenue stream for veteran support services, which underscores the state's commitment to addressing veteran homelessness.
Assembly Bill A2553 establishes a special license plate known as 'Support Our Veterans' to generate funding aimed at assisting New Jersey's homeless veteran centers, specifically Veterans Haven North and South. This initiative represents a legislative effort to provide financial resources to improve the lives of veterans who are facing homelessness. Upon the registration of motor vehicles, applicants can purchase these specialized plates for an initial fee of $50, plus an annual $10 fee, which will be contributed to a designated fund intended for veteran services.
Notably, the bill sets forth conditions regarding the financial management of the program, stipulating that no public funds will be used for the initial implementation costs. Instead, these costs must be covered by contributions from the Veterans Haven Council or designated entities, limiting state expenditure. Additionally, if the program's average annual cost per license plate exceeds $50 for two consecutive years, the chief administrator has the authority to terminate the program. This financial hurdle might raise concerns over the stability and longevity of the initiative, particularly regarding ongoing administrative costs.