Alaska Native Veterans Land Allotment Equity Act

Alaska Native Veterans Land Allotment Equity Act - Amends the Alaska Native Claims Settlement Act (ANCSA) with respect to the open season during which certain Alaska Native Vietnam veterans are eligible to file for allotments of up to two parcels of Federal land totaling up to160 acres each. Ends such open season three years after final regulations are issued under this Act.

Revises the requirement that allotments may be selected only from lands that were vacant, unappropriated, and unreserved on the date when the person eligible for the allotment first used and occupied them. Allows allotments to be selected from vacant Federal lands or lands that have been selected or conveyed to the State of Alaska or a Native Corporation, if the State or Corporation voluntarily relinquishes or conveys to the United States for allotment.

Limits the prohibition against the conveyance of certain allotments to: (1) lands within the right-of-way granted for the TransAlaska Pipeline; or (2) the inner or outer corridor of that right-of-way withdrawal. Repeals the prohibition against conveying allotments containing wilderness lands, National Forest Lands, lands within a recorded mining claim, home sites, trade and manufacturing sites, reindeer sites, and cemetery sites, among others.

Limits the eligibilty for allotments to veterans who served between August 5, 1964, and May 7, 1975. Allows an heir to apply for and receive the allotment.

Allows a Native Corporation to select an equal amount of acres of appropriate Federal land within Alaska to replace lands voluntarily relinquished or conveyed to the United States for allotment.

Prescribes requirements for approval of allotment applications.

Permits any person who made an allotment selection under ANCSA before the enactment of this Act to withdraw it and reselect lands if those originally selected were not conveyed to that person before the enactment of this Act.