[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1496 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1496

  To amend the definition of Village Corporation in the Alaska Native 
             Claims Settlement Act, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                             June 29, 2017

 Ms. Murkowski (for herself and Mr. Sullivan) introduced the following 
bill; which was read twice and referred to the Committee on Energy and 
                           Natural Resources

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                                 A BILL


 
  To amend the definition of Village Corporation in the Alaska Native 
             Claims Settlement Act, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``ANCSA Corporation Reinstatement Act 
of 2017''.

SEC. 2. REINSTATEMENT OF DISSOLVED VILLAGE OR GROUP CORPORATIONS.

    Section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 
1602) is amended by striking subsection (j) and inserting the 
following:
    ``(j) Village Corporation.--The term `Village Corporation'--
            ``(1) means an Alaska Native Village Corporation organized 
        under the laws of the State of Alaska as a business for profit 
        or nonprofit corporation to hold, invest, manage, or distribute 
        lands, property, funds, and other rights and assets for and on 
        behalf of a Native village in accordance with the terms of this 
        Act; and
            ``(2) shall include any successor corporation of a Village 
        Corporation involuntarily dissolved under the laws of the State 
        of Alaska if--
                    ``(A) the successor has received all or 
                substantially all of the assets of the original Village 
                Corporation;
                    ``(B) the shareholders of the successor are 
                comprised of all shareholders of record or heirs of 
                such shareholders at the time of such involuntary 
                dissolution; and
                    ``(C) the successor corporation is organized under 
                the laws of the State of Alaska;''.
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