National Park Centennial Fund Act - (Sec. 3) Establishes in the Treasury the National Park Centennial Fund, into which there shall be deposited from the general treasury $30 million for each fiscal year from FY2009 through FY2018.
(Sec. 4) Requires the President's annual budget submission for the Department of the Interior to include a list of National Park Centennial Proposals. Directs the Secretary of the Treasury to establish a standard process for the development of the list which shall encourage input from both the public and a broad cross-section of employees at every level of the National Park Service (NPS). Requires the list to, among other things: (1) give priority to proposals demonstrating long-term viability beyond receipts from the Fund; (2) contain proposals under each of the initiatives set forth in this Act; and (3) give priority to proposals with committed, nonfederal support, but to also include proposals funded entirely by the Fund.
Specifies that the list include proposals that meet the requirements of one or more of : (1) an Education in Parks Centennial Initiative; (2) a Diversity in Parks Centennial Initiative; (3) a Supporting Park Professionals Centennial Initiative; (4) an Environmental Leadership Centennial Initiative; (5) a Natural Resource Protection Centennial Initiative; (6) a Cultural Resource Protection Centennial Initiative; and (7) a Health and Fitness in Parks Centennial Initiative.
Requires, with respect to the Diversity in Parks Centennial Initiative, submission of a report detailing a service-wide strategy for increasing diversity among NPS employees at all levels and visitors to the National Park System.
Makes, from FY2009-FY2018, unobligated amounts in the Fund available for projects authorized by this Act, but bars such amounts from being obligated or expended until 120 days after the annual submission of the list of proposals to allow for congressional review.
Prohibits more than 30% of amounts available from the Fund for any fiscal year from being spent on projects that are for the construction of facilities the cost of which exceeds $5 million.
(Sec. 5) Authorizes the Secretary of the Interior to encourage and facilitate participation in proposals from non-federal and philanthropic partners, and to accept donations.
(Sec. 6) States that amounts made available from the Fund shall supplement rather than replace annual expenditures by the NPS. Requires the NPS to maintain adequate, permanent staffing levels and prohibits the replacement of permanent staff with nonpermanent employees hired to carry out this Act.
(Sec. 7) Requires the Secretary to submit to Congress a report that includes: (1) an accounting of expenditures from the Fund; (2) a cumulative summary of the results of the National Park Centennial program; and (3) a statement of whether the NPS has maintained adequate, permanent staffing levels and what nonpermanent and permanent staff have been hired to carry out this Act.
(Sec. 8) Repeals requirements under the Land and Water Conservation Fund Act of 1965 permitting the obligation of up to $30 million during each fiscal year for the acquisition of lands, waters, or interests in the National Park System for recreation purposes.