A bill to amend the Act of October 19, 1973, to increase the maximum dollar amount of per capita shares for purposes of eligibility for financial assistance or other benefits under Federal or federally assisted programs, and for other purposes.

This bill would amend the Act of October 19, 1973 (the Alaska Native Claims Settlement Act, ANCSA) to raise the maximum amount of per capita shares that are exempt from tax and from resources used to determine eligibility for federal or federally assisted programs. Specifically, it increases the exemption from $2,000 to $5,000. The bill also includes minor technical corrections to the text of Section 7. In short, more of an individual’s per capita share could be ignored for tax purposes and when calculating eligibility for federal benefits, potentially expanding access to benefits or simplifying eligibility determinations for some recipients.