54 U.S.C. § 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 does not have to pay taxes. This covers the Foundation itself, any income or property it receives or owns, and all transactions involving that income or property. The exemption applies to federal taxes, state taxes, and local taxes.

(b) Contributions In Lieu of Taxes. Even though the Foundation doesn't have to pay taxes, it may still choose to help local governments in two ways. (1) It can contribute money toward the costs of local government. The amount can't be more than what the Foundation would have owed in taxes if it weren't tax-exempt — whether that exemption comes from subsection (a) or from the fact that it is a charitable, nonprofit corporation. (2) If someone transfers property to the Foundation and requires, as a condition of the transfer, that the Foundation make payments to a local government, the Foundation can agree to that condition.

(c) Transfers Deemed To Be to or for the Use of United States. When someone makes a contribution, gift, or other transfer to the Foundation, or for the Foundation's use, the law treats that gift as if it were made to the United States government itself, or for the government's use.