A bill for the acquisition by the United States by exchange of certain native owned lands or interests in lands in Alaska.

Directs the Secretary of Interior, under specified circumstances, to select acreage within the Kodiak National Wildlife Refuge owned and designated for conveyance to the United States by the Koniag, Incorporated, Regional Native Corporation (Koniag).

Establishes guidelines for land transfers and for the determination of fair value. Provides for binding arbitration according to the rules of the American Arbitration Association if Koniag and the Secretary cannot agree upon land values. Declares that the primary measure of the land's fair value will be its value to the Kodiak National Wildlife Refuge.

Retains the rights of Koniag members and their families to the continued use of the transferred lands for subsistence purposes.

Authorizes the Secretary and Koniag to execute future land transfers under this Act in accordance with its arbitration guidelines.

Declares that land interests acquired under this Act shall become part of the Kodiak National Wildlife Refuge.