Lake Access Keeping Economies Strong Act or the LAKES Act This bill modifies requirements relating to the collection and retention of user fees at certain recreation facilities. Specifically, the bill modifies requirements for a cost-sharing program for the management of recreation facilities established by the Water Resources Development Act of 1992. Currently, the U.S. Army Corps of Engineers may enter into cooperative agreements with nonfederal public and private entities to provide for operation and management of recreation facilities and natural resources at civil works projects. The bill requires private entities entering such agreements to be nonprofit. The bill requires the Corps, before entering into a cooperative agreement, to ensure that such entities have the authority and capability to (1) carry out the terms of the agreement, and (2) pay any damages in the event of a failure to perform. It also authorizes the Corps to allow private nonprofit entities to collect user fees. Currently, only nonfederal public entities may collect such fees. The bill also authorizes the Corps and other federal agencies to transfer to nonfederal public entities or private nonprofit entities user fees received by the Corps or another federal agency under a visitor reservation service for recreation facilities and natural resources managed by the nonfederal public entities or private nonprofit entities. In addition, the bill modifies requirements under the Flood Control Act of 1968 to direct the Corps to spend at least 80% of the fees collected at a recreational site for the operation and maintenance of that site.