Provides that, for the purpose of environmental mitigation of transportation projects, any county may require the department of transportation to participate in the county's purchase of development rights program. If the county requires the department's participation, the department shall transfer to the county's purchase of development rights program environmental mitigation moneys for transportation projects. Rights in perpetuity to future development of any open space land, farm and agricultural land, and timber land which are so designated by the county may be used as environmental mitigation moneys for transportation projects in lieu of wetlands or other mitigation required for a specific transportation project.