and all lawful acts necessary or appropriate to its pur-
poses. 
‘‘(f) BYLAWS.—In carrying out the provisions of this 
Act, the Board of the Foundation may adopt bylaws, rules, 
and regulations necessary for the administration of its 
functions and contract for any necessary services. 
‘‘(g) TAX EXEMPT STATUS.—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 dis-
cretion 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 vir-
tue of its being a charitable and nonprofit corporation and 
may agree so to contribute with respect to property trans-
ferred 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. 
‘‘(h) NON-LIABILITY
OF
UNITED
STATES.—The 
United States shall not be liable for any debts, defaults, 
acts, or omissions of the Foundation. 
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‘‘(i) REPORTS.—The Foundation shall, as soon as 
practicable after the end of each fiscal year, transmit to 
Congress an annual report of its proceedings and activi-
ties, including a full and complete statement of its re-
ceipts, expenditures, and investments. 
‘‘(j) INITIAL FUNDING.—For the purposes of assist-
ing the Foundation in establishing an office and meeting 
initial administrative, project, and other startup expenses, 
there is authorized to be appropriated $2,500,000 for fis-
cal year 2018. Such funds shall remain available to the 
Foundation until they are expended for authorized pur-
poses.’’. 
SEC. 9. AUTHORIZATION OF APPROPRIATIONS. 
Section 501 of the National and Community Service 
Act of 1990 is amended— 
(1) by redesignating subsection (b) as sub-
section (c); and 
(2) by adding after subsection (a) the following: 
‘‘(b) ADDITIONAL AUTHORIZATION OF APPROPRIA-
TIONS.— 
‘‘(1) AUTHORIZATION.—There is authorized to 
be appropriated to the Administration to carry out 
its programs and functions, including the programs 
and activities carried out under this Act and the Do-
mestic Volunteer Service Act of 1973 (42 U.S.C. 
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4950 et seq.), such additional sums as are necessary 
to achieve the goal set forth in paragraph (2). 
‘‘(2) TEN-YEAR GOAL.—It is the sense of Con-
gress that amounts appropriated under paragraph 
(1) should be sufficient to provide or facilitate volun-
teer service opportunities and programs for not 
fewer than one million volunteers in full-time na-
tional service per year before the end of the ten-year 
period beginning on the date of enactment of this 
Act.’’. 
SEC. 10. EXCLUSION FROM GROSS INCOME OF AMERI-
CORPS EDUCATIONAL AWARDS. 
(a) IN GENERAL.—Section 117 of the Internal Rev-
enue Code of 1986 (relating to qualified scholarships) is 
amended by adding at the end the following new sub-
section: 
‘‘(e) AMERICORPS EDUCATIONAL AWARDS.—Gross 
income shall not include any national service educational 
award described in subtitle D of title I of the National 
and Community Service Act of 1990 (42 U.S.C. 12601 
et seq.).’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years ending after the 
date of the enactment of this Act. 
Æ 
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