Parents need to have common sense. Most do, but some don't. Perhaps we need something other than a law. Maybe education or rules of use of parks and playgrounds.
A lot depends on where you grow up. I played outside, by the river, on a raft, in a tree house, in the barn, pretty much any place from about 5 on. But I was in a very rural small town and was in first grade at 5.
And those two girls in the second and third grade that walked me home from school everyday taught me so much about life.