Creates Highlands Conservation Trust to preserve land in Highlands Region, and authorizes Highlands conservation license plate to raise revenue therefor.

This bill creates the Highlands Conservation Trust to preserve environmentally important lands in New Jersey's Highlands Region. The trust would acquire and manage land in its natural state to conserve natural resources, preserve historic sites, and provide passive recreation opportunities. It would be funded primarily through a $50 application fee and a $10 annual fee for special "Highlands conservation" license plates, with additional revenue from grants and donations. The trust would be governed by a seven-member board appointed by the Governor and local officials, and lands acquired would become tax-exempt upon acquisition.