Action Versus No Action Act This bill limits the scope of an environmental assessment (EA) or environmental impact statement (EIS) conducted under the National Environmental Policy Act of 1969 for forest management activity on certain public lands to only the following two alternatives: (1) the effects of the forest management activity, and (2) no action. The bill applies to any EA or EIS prepared by the Forest Service or the Department of the Interior for a forest management activity on public land that is suitable for timber production and that occurs on land designated as an insect and disease treatment area under the Healthy Forests Restoration Act of 2003, is developed through a collaborative process, is proposed by a resource advisory committee, or is covered by a community wildfire protection plan. In the case of the alternative of no action, the Forest Service or Interior must consider whether to evaluate the effect of no action on forest health, potential losses of life and property, habitat diversity, wildfire potential, insect and disease potential, and timber production; and the implications of a resulting decline in forest health, loss of habitat diversity, wildfire, or insect or disease infestation on potential losses of life and property, domestic water supply in the project area, wildlife habitat loss, and other economic and social factors.