US HB3903

Authorizes a land exchange between the Chugach Alaska Corporation (an Alaska Native Regional Corporation) and the federal government, requiring completion within 1 year of enactment

Chugach Alaska would convey approximately 231,000 acres of subsurface land to the United States, consolidating federal ownership of surface and subsurface estates acquired through the Exxon Valdez Oil Spill Habitat Protection and Acquisition Program

The federal government would convey approximately 65,374 acres of federal land to Chugach Alaska, including 63,414 acres of National Forest System land and 1,960 acres from the Bureau of Land Management and National Park Service

Land conveyed to Chugach Alaska would be treated as conveyed under the Alaska Native Claims Settlement Act, subject to public easement reservations and valid existing rights

Chugach Alaska may exclude up to 209 acres from the non-federal land conveyance where Village Corporations retain development rights or shareholder homesite programs exist