Alaska Native Claims Settlement Act Amendments of 1987

Summary

Alaska Native Claims Settlement Act Amendments of 1987 - Amends the Alaska Native Claims Settlement Act to authorize an Alaska Native Regional Corporation, if authorized by an amendment to its articles of incorporation, to issue up to 100 additional shares of Native common stock to certain Natives born after December 18, 1971, age 65, or eligible but unenrolled. Sets forth provisions relating to the class, preference, dividend and voting rights, liquidation preferences, alienation restrictions, and issuance of such additional shares of stock. Grants specified rights to and places certain alienation restrictions on holders of Native common stock. Exempts the Bristol Bay Native Corporation or any Village Corporation in the Bristol Bay region from such restrictions under certain conditions. Sets forth procedures for the termination of such alienation restrictions by the shareholders and a Regional Corporation. Allows a Regional Corporation, under certain circumstances or if authorized, to purchase any or all shares of its Native common stock then issued and outstanding. Sets forth procedures for a Regional Corporation to: (1) amend its articles of incorporation; (2) transfer its assets; and (3) approve certain resolutions. Sets forth procedures for the Bristol Bay Native Corporation or any Village Corporation located in the Bristol Bay region to vote on whether to extend restrictions on the alienation of Native common stock. Sets forth procedures for such entities to: (1) amend its articles of incorporation; (2) transfer their assets; and (3) approve certain resolutions. Authorizes the conveyance of assets, including surface and subsurface lands, by a Native Corporation or its stock holders, after involuntary dissolution, to a qualified transferee entity. Prohibits a Regional Corporation from conveying assets to more than one qualified transferee entity. Prohibits any provision of this Act from diminishing or in any way affecting the governmental powers, if any, of an Alaska Native village or Traditional Councils. Allows the Aleut Corporation, Cook Inlet Region, Inc., Koniag, Inc., and any Village Corporation within such regions to vote on whether to continue restrictions on alienation of Native common stock. Requires provisions regarding stock issuance, stockholders rights, and annual audits that relate to Regional Corporations to apply to Village Corporations, Urban Corporations, and Native groups. Continues after December 18, 1991, restrictions on alienation of Native common stock of such corporations, inchoate rights, and dividends paid. Provides for the removal of such restrictions on alienation of Native common stock. Grants exclusive jurisdiction over any action challenging the constitutionality of any provision of this Act to the U.S. District Court for the District of Alaska. Authorizes the conveyance of subsurface estates by a Regional Corporation to a village entity. Exempts, under certain circumstances, lands conveyed under the Act to a Native individual, Native group, village, or Regional Corporation from Federal, State, and local taxes and other specified claims. Provides that stock issued by a Regional Corporation or Village Corporation shall be exempt from State taxes provided the limitation upon alienation of such stock has been removed. Exempts any corporation organized under this Act from U.S. securities laws until the corporation removes limitations on alienation or until shares are issued to non-Natives. Provides that any compensation, revenue, stock, land, or other benefits received by a household or individual Native under this Act shall not be considered as a resource in determining eligibility of such household or individual to participate in the Food Stamp program or to receive assistance under the Social Security Act or any other federally assisted program. Provides that a Native Corporation shall be considered a corporation owned and controlled by Alaska Natives until such time as less than 50 percent of the outstanding Native common stock are held by such individuals. Provides that dissenting stockholders' rights in a merger or consolidation of Native corporations may not be exercised while the Native common stock of all corporations remains subject to restraints or alienation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 6 January 1987

   Introduced

   Referred to House Committee on Interior and Insular Affairs.

   Source: IntroReferral

2. 6 January 1987

   Introduced

   Introduced in House

   Source: IntroReferral

3. 6 January 1987

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 March 1987

   Committee

   Committee Hearings Held.

   Source: Committee

5. 4 March 1987

   Committee

   Unfavorable Executive Comment Received From Interior.

   Source: Committee

6. 18 March 1987

   Reported

   Ordered to be Reported.

   Source: Committee

7. 18 March 1987

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

8. 27 March 1987

   Calendars

   Placed on Union Calendar No: 23.

   Source: Calendars

9. 27 March 1987

   Reported

   Reported to House by House Committee on Interior and Insular Affairs. Report No: 100-31.

   Source: Committee

10. 27 March 1987

    Reported

    Reported to House by House Committee on Interior and Insular Affairs. Report No: 100-31.

    Source: Committee

11. 31 March 1987

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

12. 31 March 1987

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

13. 31 March 1987

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

14. 1 April 1987

    Introduced

    Received in the Senate.

    Source: IntroReferral

15. 2 April 1987

    Introduced

    Read twice and referred to the Committee on Energy and Natural Resources.

    Source: IntroReferral

16. 19 May 1987

    Committee

    Subcommittee on Public Lands, National Parks. Hearings held. Hearings printed: S.Hrg. 100-160.

    Source: Committee

17. 4 August 1987

    Committee

    Committee on Energy and Natural Resources received executive comment from Interior Department. Unfavorable.

    Source: Committee

18. 23 September 1987

    Reported

    Committee on Energy and Natural Resources. Ordered to be reported in lieu of S. 1145 with an amendment in the nature of a substitute favorably.

    Source: Committee

19. 20 October 1987

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 381.

    Source: Calendars

20. 20 October 1987

    Reported

    Committee on Energy and Natural Resources. Reported to Senate by Senator Johnston with an amendment in the nature of a substitute. With written report No. 100-201. Additional views filed.

    Source: Committee

21. 20 October 1987

    Reported

    Committee on Energy and Natural Resources. Reported to Senate by Senator Johnston with an amendment in the nature of a substitute. With written report No. 100-201. Additional views filed.

    Source: Committee

22. 29 October 1987

    ResolvingDifferences

    Senate insisted on its amendments, requested a conference.

    Source: ResolvingDifferences

23. 29 October 1987

    Passed

    Passed Senate with an amendment by Voice Vote.

    Source: Floor

24. 29 October 1987

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.

    Source: Floor

25. 17 November 1987

    Floor

    Previous Senate action whereby the Senate insisted on its amendments and requested a Conference is vitiated.

    Source: Floor

26. 18 November 1987

    Floor

    Message on Senate action sent to the House.

    Source: Floor

27. 21 December 1987

    Floor

    Message on House action received in Senate and held at desk: House amendment to Senate amendment.

    Source: Floor

28. 21 December 1987

    Vote

    House Concurred, in Senate Amendments , with Amendments by Yea-Nay Vote: 397 - 9 (Record Vote No: 506).

    Source: ResolvingDifferences

29. 21 December 1987

    Vote

    Resolving differences -- House actions: House Concurred, in Senate Amendments , with Amendments by Yea-Nay Vote: 397 - 9 (Record Vote No: 506).

    Source: NotUsed

30. 22 December 1987

    Floor

    Message on Senate action sent to the House.

    Source: Floor

31. 22 December 1987

    Passed

    Senate agreed to the House amendment to the Senate amendment by Voice Vote.

    Source: ResolvingDifferences

32. 22 December 1987

    Passed

    Resolving differences -- Senate actions: Senate agreed to the House amendment to the Senate amendment by Voice Vote.

    Source: NotUsed

33. 21 January 1988

    Floor

    Measure Signed in Senate.

    Source: Floor

34. 22 January 1988

    Floor

    Presented to President.

    Source: Floor

35. 22 January 1988

    President

    Presented to President.

    Source: President

36. 3 February 1988

    President

    Signed by President.

    Source: President

37. 3 February 1988

    Became law

    Became Public Law No: 100-241.

    Source: President

38. 3 February 1988

    Became law

    Signed by President.

    Source: BecameLaw

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 4 February 1988

  ViewDownloadOpen at official source

• House agreed to Senate amendment with amendment

  summary · EN · 21 December 1987

  Open at official source

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• Passed House amended

  summary · EN · 31 March 1987

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• Reported to House with amendment(s)

  summary · EN · 27 March 1987

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• Introduced in House

  summary · EN · 6 January 1987

  Open at official source

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Sponsors

• Rep. Young, Don [R-AK-At Large] · R · Sponsor
• · sseg00 · Standing
• · hsii00 · Standing

Related records

• related to ← Alaska Native Claims Settlement Act Amendments of 1987

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