54 U.S.C. § 101118

(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.