Trees; replacement during development process in localities, tree canopy fund.

Replacement of trees during development process in localities; tree canopy fund. Allows localities by ordinance to establish a tree canopy fund to collect, maintain, and distribute fees collected from developers that cannot provide for full tree canopy requirements where the development project is situated. The bill requires the ordinance to establish cost units that are based on average costs of two-inch caliper nursery stock trees. The bill allows a locality to use moneys from the fund to (i) plant and maintain trees on public or private property or (ii) make disbursements to a community-based organization that is exempt from income tax pursuant to § 501(c)(3) of the Internal Revenue Code and is operated for tree planting, stewardship, or community-beautification missions that benefit the community at large. The bill requires any funds collected by localities to be spent within five years of the collection date.