Selected Provisions of ANCSA
- Native claims to almost all of Alaska were extinguished in exchange for approximately one-ninth of the state's land plus $962.5 million in compensation distributed to 200 local village and 12 Native-owned regional corporations, plus a thirteenth corporation comprising Alaska Natives who had left the state.
- Of the compensation monies, $462.5 million was to come from the federal treasury and the rest from oil revenue-sharing.
- Settlement benefits would accrue to those with at least one-fourth Native ancestry.
- Of the approximately 80,000 Natives enrolled under ANCSA, those living in villages (approximately 2/3s of the total) would receive 100 shares in both a village and a regional corporation.
- The remaining 1/3 would be "at large" shareholders with 100 shares in a regional corporation plus additional rights to revenue from regional mineral and timber resources.
- The Alaska Native Allotment Act was revoked and as yet unborn Native children were excluded.
- The twelve regional corporations within the state would administer the settlement.
- A thirteenth corporation composed of Natives who had left the state would receive compensation but not land.
- Surface rights to 44 million acres (180,000 km2) were patented to the Native village and regional corporations
- The surface rights to the patented land were granted to the village corporations and the subsurface right to the land were granted to the regional corporation, creating a "split estate"
Read more about this topic: Alaska Native Claims Settlement Act
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