LEGISLATIVE FISCAL ESTIMATE
SENATE, No. 2754
STATE OF NEW JERSEY
222nd LEGISLATURE
DATED: JULY 28, 2026
SUMMARY
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Synopsis: |
Authorizes creation of registered nurse license plates. |
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Type of Impact: |
Potential annual State revenue and expenditure increases. |
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Agencies Affected: |
New Jersey Motor Vehicle Commission; Department of the Treasury. |
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Fiscal Impact |
Year 1 |
Thereafter |
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Potential State Expenditure Increase |
$46,423 |
Indeterminate |
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Potential State Revenue Increase |
Indeterminate |
Indeterminate |
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· The Office of Legislative Services (OLS) finds that the bill will potentially produce an initial State expenditure increase of up to $46,423 to develop and publicize the new specialty registered nurse license plates, including any computer programming changes that may be necessary. Annual State costs thereafter will depend on the demand for the new license plates and the number produced. The New Jersey Motor Vehicle Commission is not to begin development of the new license plates until the Department of the Treasury specifies a State funding source for the specialty registered nurse license plate program.
· The commission will receive a $50 fee with each license plate application, which would increase annual revenue to the commission by an indeterminate amount. Total annual State revenue will depend on demand for the new license plate and will determine if the commission’s cost of producing the license plates will be offset.
BILL DESCRIPTION
This bill authorizes the Motor Vehicle Commission to issue specialty registered nurse license plates. In addition to all fees otherwise required by law for the registration of a motor vehicle, there is an application fee of $50 for the registered nurse license plates. The commission is required to certify annually the average cost of producing, issuing, renewing, and publicizing the availability of the specialty license plates to the Department of the Treasury. If the average cost per plate exceeds $50 in two consecutive fiscal years, the commission may discontinue the program.
The bill requires the Department of the Treasury to determine the source of initial State funding for the license plate program, and the commission is not required to undertake the new program until the department specifies the initial funding source.
FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS finds that the bill will potentially produce an initial State expenditure increase of up to $46,423 to design, develop, issue, and publicize the new specialty license plate. This is the amount indicated by the commission as its upfront cost to set up similar license plate programs, which includes computer changes and the initial print run of 900 license plates. Annual State costs thereafter will depend on the demand for the new license plate and the number produced. The commission is not to begin development of the registered nurse license plate until the Department of the Treasury specifies a State funding source for the program.
The commission will receive a $50 fee with each license plate application, which would increase annual revenue to the commission by an indeterminate amount. Total annual State revenue will depend on demand for the new license plate and will determine if the commission’s cost of producing the license plates is offset. The bill does not include any parameters specifying the number of applications required before the initial run of plates begins. The OLS notes that recently enacted legislation establishing other specialty license plates required the commission to receive $25,000 from an outside organization and a minimum of 500 completed applications, including the application fee, prior to production to offset the initial costs of producing the specialty plates. An additional $10 annual renewal fee is also typically charged to the plate holder, which permits the commission to recoup its remaining upfront costs in subsequent years. The bill does not require an annual renewal fee.
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Section: |
Authorities, Utilities, Transportation and Communications. |
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Analyst: |
Associate Fiscal Analyst |
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Approved: |
Thomas Koenig Legislative Budget and Finance Officer |
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).