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 legislation proposes to change the legal status of Alexander Creek, Incorporated by recognizing it as a Village Corporation under the Alaska Native Claims Settlement Act. Currently classified as a group corporation, this change would formally acknowledge Alexander Creek as an Alaska Native village. To finalize this transition, the corporation would be required to update its state charter and enter into formal negotiations with the Department of the Interior to settle long-standing land and aboriginal claims against the federal government.

If enacted, the bill would change how benefits and payments are distributed to the community's members. Shareholders would stop receiving individual at-large payments from the Cook Inlet Region, Incorporated. Instead, those resource payments would be directed to Alexander Creek, Incorporated to be managed at the village level. This shift aims to provide the community with greater local control over its corporate identity and land claim settlements, though it requires a formal agreement with the federal government within thirteen months of the bill's passage.