Alaska Native Veterans Land Allotment Equity Act

Alaska Native Veterans Land Allotment Equity Act - Amends the Alaska Native Claims Settlement Act (ANCSA) to: (1) provide that the open season during which certain Alaska Native Vietnam veterans are eligible to file for allotments of up to two parcels of Federal land totaling up to160 acres each shall end three years after final regulations are issued under this Act; (2) allow allotments to be selected from vacant Federal lands or lands that have been selected or conveyed to the State of Alaska or a Native Corporation that the State or such an entity voluntarily relinquishes or conveys to the United States for allotment; (3) repeal the prohibition on the conveyance of certain allotments; (4) make eligible for allotments such veterans who served during the period between August 5, 1964, and May 7, 1975, and who meet other eligibility requirements; and (5) allow an heir, on behalf of the estate of a deceased veteran who would otherwise have been eligible for an allotment, to apply for and receive the allotment.

Allows a Native Corporation to select an equal amount of acres of appropriate Federal land within Alaska to replace lands voluntarily relinquished or conveyed to the United States for allotment.

Prohibits selection of allotments from: (1) lands within the right-of-way granted for the TransAlaska Pipeline; or (2) the inner or outer corridor of that right-of-way withdrawal.

Sets forth requirements for approval of allotment applications.

Permits any person who made an allotment selection under ANCSA before the enactment of this Act to withdraw it and reselect lands if those originally selected were not conveyed to that person before the enactment of this Act.