Alaska Native village corporations—organizations set up under a 1971 law to manage land for Alaska Native communities—currently have to hand over certain lands either to their local municipal government or, if there isn't one yet, to the state of Alaska, which holds that land in trust in case a municipal government is created later. This bill ends that requirement, meaning village corporations would no longer have to give up that land in the first place. It also lets village corporations that already transferred land into one of these state-held trusts take that land back, as long as the corporation and the residents of the village formally vote to dissolve the trust.