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 to 160 acres. Ends such open season three years after regulations have been issued under this Act.

Revises the requirements for selection of such allotments. Allows allotments to be selected from land that is selected by or conveyed to the State of Alaska or a Native Corporation if the State or Native Corporation voluntarily relinquishes or conveys to the United States the land for the 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 such right-of-way.

Expands the eligibility for allotment to veterans who served between August 5, 1964, and May 7, 1975. Allows an heir (currently, only the personal representative or special administrator for the benefit of heirs) to apply for and receive an allotment on behalf of the estate of a deceased eligible individual.

Prescribes criteria for the approval of allotment applications.

Permits any person who made an allotment selection under this Act to withdraw it and reselect land in accordance with this Act, if the land originally selected: (1) was selected before enactment of this Act; and (2) as of the enactment of this Act, was not conveyed to the person.