NY S05603

Reduces the minimum acreage requirement for forest land tax exemptions from 50 contiguous acres to 10 contiguous acres under Section 480-a of the real property tax law

Creates a new category of "easement tracts" eligible for the 80% property tax exemption, defined as privately owned forest land of at least 10 contiguous acres subject to a permanent conservation easement that prohibits tree cutting and requires maintenance as wild forest land

Authorizes municipal chief executive officers to apply for state assistance to offset lost tax revenue from privately owned forest lands receiving exemptions, with the state paying the difference between the equalized cumulative value of such lands and their taxable assessed valuation

Establishes violation procedures for easement tracts, including penalties for failing to maintain land as wild forest land, converting to incompatible uses, or allowing trees to be cut, removed, or destroyed

Provides exceptions from violations for management actions approved by the Department of Environmental Conservation to control invasive species or for damage caused by natural disasters