This bill mandates the establishment of a program by the Department of Environmental Protection (DEP) for the acquisition of development easements and conservation restrictions on privately-owned woodlands. To qualify for this program, the woodlands must be at least five contiguous acres and managed according to an approved forest stewardship or woodland management plan. The bill also specifies that any easements acquired will be recorded with the municipal tax assessor and county clerk, and landowners will not be required to provide public access to these woodlands.

To fund this initiative, the bill creates the Woodlands Protection Fund, which will receive federal funds, private donations, legislative appropriations, and investment returns. The DEP is tasked with coordinating funding efforts and will request necessary budget allocations annually. Additionally, the State Forester is required to adopt rules and regulations for the program's implementation within one year of the bill's enactment, ensuring that the management of acquired lands promotes sustainability. This program aims to protect New Jersey's forested areas, which are under development pressure, and to support the conservation of vital ecological resources.