land or interest therein that is to be transferred on 
the terms in the offer or their cash equivalent. 
‘‘(3) If the Regional Corporation does not pur-
chase all of the land or interest therein to be trans-
ferred within the required time, then the 13th Re-
gional Corporation may transfer all of the land or 
interest therein offered (but not a lesser or greater 
amount) to the third party specified in the offer, but 
not for a price less or on terms different from those 
originally made by the third party. Any land or in-
terest therein not transferred by the 13th Regional 
Corporation to the specified third party not later 
than 60 days after making the offer to the Regional 
Corporation shall again become subject to the re-
strictions of this subsection as though it had never 
been offered. 
‘‘(4) For purposes of this subsection, ‘transfer’ 
means the sale, transfer, or exchange of land or in-
terests therein in gravel, oil and gas, minerals, water 
or timber that have been leased to a third party for 
consideration, including a lease or royalty payment 
but does not include an exchange for other land or 
an interest therein within the state of Alaska pursu-
ant to section 22(f) of this Act or section 1302(h) 
of the Alaska National Interest Lands and Con-
VerDate Aug 31 2005 
22:27 Feb 14, 2008
Jkt 069200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H5403.IH
H5403
pwalker on PROD1PC71 with BILLS
servation Act, mineral or other leasing on commer-
cially reasonable terms, or the pledge, encumbrance 
or grant of a security interest on commercially rea-
sonable terms.’’. 
SEC. 4. REVENUE SHARING. 
Section (1)(A) of Section 7(i) of the Alaska Native 
Claims Settlement Act (43 U.S.C. 1606(i)) is amended to 
read as follows: 
(1)(A) Except as provided by subparagraph 
(B), 70 percent of all revenues received by each of 
the 12 Regional Corporations organized under sub-
section (a) from the timber and subsurface estate 
patented to it pursuant to this Act, and 15 percent 
of all revenues received by the 13th Regional Cor-
poration organized under subsection (c) from the 
timber and subsurface estate patented to it pursuant 
to the 13th Regional Corporation Land Entitlement 
Act, shall be divided annually by the Regional Cor-
poration among the 12 Regional Corporations orga-
nized pursuant to subsection (a) according to the 
number of Natives enrolled in each region pursuant 
to section 5 of this Act. An additional, 10 percent 
of such revenues received by the 13th Regional Cor-
poration, shall be distributed to the Regional Cor-
poration for the geographical region where the re-
VerDate Aug 31 2005 
23:12 Feb 14, 2008
Jkt 069200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H5403.IH
H5403
pwalker on PROD1PC71 with BILLS
sources giving rise to such revenues are located. If 
the resources developed are on lands originally with-
drawn for selection by a Village Corporation, then 
one-half of the 10 percent paid to the local Regional 
Corporation shall be distributed by that corporation 
to the Village Corporation. Revenues distributed by 
or received from the 13th Regional Corporation are 
not subject to the requirements of subsections (j), 
(k), (l), (m), and (n) of this section. 
(B) The Regional Corporations, including the 
13th Regional Corporation shall determine the reve-
nues required to be distributed pursuant to this sub-
section in accordance with the section 7(i) Settle-
ment Agreement by and between the 12 Regional 
Corporations created pursuant to subsection (a), as 
previously or hereafter amended, and shall be bound 
by the provisions of that Agreement with respect to 
the revenues they distribute. The 13th Regional Cor-
poration shall be bound by any amendment to the 
section 7(i) Settlement Agreement unless the amend-
ment is not of general applicability to the other Re-
gional Corporations. Nothing in this section shall be 
construed to grant the 13th Regional Corporation 
any rights with respect to any revenues distributed 
by the 12 Regional Corporations pursuant to section 
VerDate Aug 31 2005 
22:27 Feb 14, 2008
Jkt 069200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H5403.IH
H5403
pwalker on PROD1PC71 with BILLS
7(i), or to grant the 13th Regional Corporation the 
right or power to approve any amendment to the 
section 7(i) Settlement Agreement. 
Æ 
VerDate Aug 31 2005 
22:27 Feb 14, 2008
Jkt 069200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6301
E:\BILLS\H5403.IH
H5403
pwalker on PROD1PC71 with BILLS