§ 19l. — Tax exemptions; contributions toward costs of local government; contributions, gifts, or transfers to or for use of United States.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC19l]
TITLE 16--CONSERVATION
CHAPTER 1--NATIONAL PARKS, MILITARY PARKS, MONUMENTS, AND SEASHORES
SUBCHAPTER III--NATIONAL PARK FOUNDATION
Sec. 19l. Tax exemptions; contributions toward costs of local
government; contributions, gifts, or transfers to or for use of
United States
The Foundation and any income or property received or owned by it,
and all transactions relating to such income or property, shall be
exempt from all Federal, State, and local taxation with respect thereto.
The Foundation may, however, in the discretion of its directors,
contribute toward the costs of local government in amounts not in excess
of those which it would be obligated to pay such government if it were
not exempt from taxation by virtue of the foregoing or by virtue of its
being a charitable and nonprofit corporation and may agree so to
contribute with respect to property transferred to it and the income
derived therefrom if such agreement is a condition of the transfer.
Contributions, gifts, and other transfers made to or for the use of the
Foundation shall be regarded as contributions, gifts, or transfers to or
for the use of the United States.
(Pub. L. 90-209, Sec. 8, Dec. 18, 1967, 81 Stat. 657.)
Section Referred to in Other Sections
This section is referred to in title 26 section 2055.
