Requires permit and compensatory reforestation plan for development projects that result in deforestation; establishes grant program for reforestation activities by private landowners; establishes "State Compensatory Reforestation Fund."

This bill requires development projects over five acres that cause deforestation to obtain a permit and submit a compensatory reforestation plan. The plan must aim for no net loss of forested area, detailing where trees will be planted (preferably on the same property or in the same municipality), species selection (native, diverse, climate-resilient), and costs. Developers can comply by planting trees on-site, contracting for planting, or depositing funds into the new "State Compensatory Reforestation Fund." The fund will also support a grant program to subsidize tree planting costs for private landowners, separate from development project requirements.