Authorizes creation of Lambda Theta Phi Latin Fraternity, Inc. license plates.

This bill authorizes New Jersey to issue special license plates for the Lambda Theta Phi Latin Fraternity, Inc. Motor vehicle owners can apply for these plates by paying a $50 one-time fee and a $10 annual fee (in addition to standard registration costs). The fees collected, after covering administrative expenses, will fund a dedicated account that annually provides grants to support the fraternity's mission and programs. The program requires the fraternity to raise up to $25,000 from private sources and secure 500 applications before implementation, and it expires if these conditions aren't met within 12 months.