The Forest Conservation Easement Program Act of 2025 amends the Food Security Act of 1985 to create a new Forest Conservation Easement Program (FCEP) and repeals the existing Healthy Forests Reserve Program. This new program authorizes the Secretary of Agriculture to conserve and restore eligible land through the acquisition of two types of easements: forest land easements and forest reserve easements. Its primary goals are to protect the viability of working forests , enhance forest ecosystems, and promote the restoration and protection of habitats for threatened, endangered, or at-risk species. The FCEP offers two distinct pathways for conservation. Forest land easements are purchased by eligible entities (state/local agencies, Indian Tribes, or conservation organizations) to protect working forests and their conservation values, allowing continued forest production under a management plan. The federal share for these easements is typically 50% of the fair market value, increasing to 75% for forests of special environmental significance or land owned by socially disadvantaged forest landowners . Alternatively, forest reserve easements are acquired directly by the Secretary from landowners to restore, protect, and enhance land, primarily benefiting endangered or threatened species, and secondarily, candidate or at-risk species. These easements require a jointly developed forest reserve easement plan outlining activities for habitat restoration and enhancement. Compensation for permanent easements covers the difference in fair market value before and after the easement, while shorter durations receive 50-75% of that amount. The program provides financial assistance for implementing forest reserve easement plans, covering up to 100% of eligible costs for permanent easements and 50-75% for shorter terms, with a payment limit of $500,000 per easement. Landowners who achieve a net conservation benefit for species through these easements may receive safe harbor assurances under the Endangered Species Act. Technical assistance is available for both easement types, and the Secretary can delegate management responsibilities to other agencies or conservation organizations. The bill specifies that certain lands are ineligible, such as federal land (excluding Indian Tribe acreage) or land with existing similar protections, but explicitly states that eligibility will not be limited by acreage size, landowner type, or severed mineral rights. It also allows for the subordination, modification, exchange, or termination of easements under specific conditions, requiring landowner consent and congressional notification for terminations. Importantly, existing Healthy Forests Reserve Program contracts and easements will transition into the new FCEP, and participants are permitted to engage in environmental services markets consistent with the program's goals. The FCEP is authorized to receive $100,000,000 annually for fiscal years 2025 through 2029.