US Code
SUBCHAPTER II— NATIONAL PARK FOUNDATION
§ 101118. Tax exemptions; contributions toward costs of local government; contributions, gifts, or transfers to or for use of United States

(a)
Tax Exemption.—
The National Park Foundation and any income or property received or owned
by it, and all transactions relating to that income or property, shall be exempt
from all Federal, State, and local taxation.
(b)
Contributions In Lieu of Taxes.—
The National Park Foundation may—
(1)
contribute toward the costs of local government in amounts not in
excess of those which it would be obligated to pay that government if it
were not exempt from taxation by virtue of subsection (a) or by virtue of
its being a charitable and nonprofit corporation; and
(2)
agree to contribute with respect to property transferred to it and the
income derived from the property if the agreement is a condition of the
transfer.
(c)
Transfers Deemed To Be to or for the Use of
United States.—
Contributions, gifts, and other transfers made to or for the use of the
Foundation shall be deemed to be contributions, gifts, or transfers to or for
the use of the United States.