A bill to amend the Alaska Native Claims Settlement Act to provide that Alexander Creek, Incorporated, is recognized as a Village Corporation under that Act, and for other purposes.

This bill would formally recognize Alexander Creek, Incorporated as an Alaska Native village corporation and Alexander Creek as an Alaska Native village. To finalize this status, the corporation would be required to amend its charter and negotiate a settlement with the Department of the Interior regarding land and legal claims within 13 months of enactment. Additionally, the bill specifies that members would transition from receiving individual benefits as at-large shareholders of the Cook Inlet Region, Incorporated to having future resource payments retained by Alexander Creek, Incorporated.

This bill directly affects Alexander Creek, Incorporated, which would be recognized as an Alaska Native village corporation, and the Department of the Interior, which must negotiate land claim settlements with the entity. Members of Alexander Creek, Incorporated are also affected, as they would cease receiving individual benefits as at-large shareholders of Cook Inlet Region, Incorporated. Additionally, Cook Inlet Region, Incorporated is impacted by the redirection of future resource payments to the newly recognized village corporation.

• Recognition of Alexander Creek as a Village Corporation. Formally recognizes Alexander Creek, Incorporated as an Alaska Native village corporation and Alexander Creek village as an Alaska Native village, provided certain conditions are met.
• Corporate Charter Amendments. Requires Alexander Creek, Incorporated to submit necessary amendments to its state corporate charter to facilitate its conversion from a group corporation to a village corporation.
• Negotiation of Land and Legal Claims. Directs the Department of the Interior to negotiate with the corporation to settle aboriginal land claims and other legal claims against the United States. An agreement must be reached within 13 months of the bill's enactment as a condition of recognition.
• Shareholder Notification and Benefit Adjustments. Mandates that the corporation notify members that they will no longer receive individual at-large shareholder benefits from Cook Inlet Region, Incorporated. Future resource payments will instead be retained by Alexander Creek, Incorporated.

As a condition of recognition as a village corporation, Alexander Creek, Incorporated must enter into a settlement agreement with the Department of the Interior no later than 13 months after the bill's enactment.

This bill amends the Alaska Native Claims Settlement Act to formally recognize Alexander Creek, Incorporated as a Village Corporation and Alexander Creek village as an Alaska Native village. It requires the corporation to amend its state corporate charter to facilitate a conversion from its current status as a group corporation to a village corporation.

The bill aims to formally recognize Alexander Creek, Incorporated as an Alaska Native village corporation and Alexander Creek as an Alaska Native village. It establishes a framework for the corporation to settle land and legal claims with the Department of the Interior while transitioning its corporate status and shareholder benefit structures.