I generally don't give a hoot about specialty plates, but this one is an A-OK message with no particularly silly political overtones. If California did something like this, I'd probably contribute my extra sixty bucks to the state coffers; especially if the money went toward more bike lanes and bike-worthy improvements. Here's the story from USA cycling.
Here are some other states with similar plates: Georgia, Texas, Washington, Florida, North Carolina, Ohio and Kentucky.
Funny, speaking of politics; all but one of the states in the above list are "red" states. Can we surmise that red states might be more bicycle friendly than blue states?
And finally, here is Chico Velo's tee shirt version: