Alaska Native Claims Settlement Act

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The Alaska Native Claims Settlement Act, commonly abbreviated ANCSA, was signed into law by President Richard M. Nixon on December 18, 1971, the largest land claims settlement in United States history. ANCSA was intended to resolve the long-standing issues surrounding aboriginal land claims in Alaska, as well as to stimulate economic development throughout Alaska. The settlement extinguished Alaska Native claims to the land by transferring titles to twelve Alaska Native regional corporations and over 200 local village corporations. A thirteenth regional corporation was later created for Alaska Natives who no longer resided in Alaska.

Among the 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 2/3rds of the total) would receive 100 shares in both a village and a regional corporation.
The remaining 1/3rd 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The Alaska Native Allotment Act was revoked and as yet unborn Native children were excluded.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 on 44 million acres (178,000 km²) were allotted to the Natives and administered by the Native Corporations.