Colorado Charter Forest Act of 2008 - Directs the Secretary of Agriculture to conduct a demonstration project for National Forest System lands in Colorado ("covered lands") for the purposes of increasing community involvement in decision making regarding management and evaluating methods to improve the health and management of the lands.
Requires establishment of: (1) an independent scientific panel to assess the ecological, social, and economic sustainability of the covered lands and prepare a monitoring plan; and (2) a community management council to advise on environmental, economic, and social issues related to the management, occupancy, and use of the lands.
Requires the Secretary, not later than 60 days after appointment of the community management council, to begin to develop a land and resource management charter for the covered lands, notwithstanding the requirements of the National Environmental Policy Act of 1969.
Requires the Secretary to promulgate rules to establish a pre-decision review process for use in connection with site-specific projects.
Expresses the sense of Congress that in order to offset funds appropriated to implement this Act for a fiscal year, the Forest Service land acquisition budget for that year should be reduced by an equal amount.