Authorizes issuance of classic NJ license plates.
S946 contains a sunset clause stating that the bill will become inoperative if the conditions for funding and applications are not met within specified time frames. This adds an additional layer of urgency and accountability to the implementation of the classic license plate program, reinforcing the need for prompt action from interested parties.
A significant aspect of S946 is the financial structure it proposes. It mandates that no state or public funds can be used for the initial costs involved in implementing the classic license plate program. Instead, a designated non-public entity must contribute up to $25,000 to cover initial expenses. This creates a public-private partnership model for funding the program, which may stimulate further interest from private contributors.
S946 is a bill that authorizes the Chief Administrator of the New Jersey Motor Vehicle Commission to issue classic New Jersey license plates, replicating the design from the former New Jersey Department of Motor Vehicles plates issued between 1979 and 1991. The bill outlines that applications for these plates must be accompanied by a $50 application fee, followed by an annual renewal fee of $10. Proceeds from these fees are designated for the Special Transportation Fund, aimed at supporting state transportation projects.
Several points of contention could arise from the implementation of this bill. Critics might argue about the reliance on non-public funding to establish a state-run program, potentially jeopardizing the program's viability if sufficient private contributions are not gathered. The bill also stipulates that the license plate program will not commence until the commission receives at least 500 applications, posing a risk that the initiative might not launch if that threshold is not met. Additionally, the bill includes provisions for termination if the average production cost per plate exceeds the defined fees over two consecutive years, which could lead to discontinuation of the program.