No Net Loss of Private Land Act - Allows the the Secretary of Agriculture and the Secretary of the Interior, in the case of a State in which 25 percent or more of all land in the State is owned by the United States, to acquire an interest in a parcel of land consisting of 100 or more acres in the State on behalf of the United States only if all right, title, and interest of the United States in the surface estate of another parcel of land in that State is conveyed, the value of which is approximately equal in value to the land being acquired. Prohibits the Secretary of Agriculture or the Secretary of the Interior (the Secretary concerned) from dividing a parcel of land consisting of 100 or more acres into smaller parcels to avoid such requirements.
Specifies exceptions. Allows the Secretary concerned to waive such requirements with respect to the acquisition of a particular parcel of land in a time of war or a national emergency when such acquisition is necessary as part of the U.S. response to the war or national emergency.