In 1971, the Alaska Native Claims Settlement Act (ANCSA) was passed by Congress. The act extinguished aboriginal title for Alaska Natives. In return, Alaska Native people were compensated $1 billion and were allowed to retain ownership of 44 million acres of land. However, it is important to note that this means Alaska Natives had to give up the rest of the land (380.5 million acres), which was not granted to the corporations, for less than $3 an acre. The original legislation called for creation of twelve profit-making regional corporations and paved the way for approximately 239 village corporations to oversee the money and land. Although Haines, Petersburg, Ketchikan, Tenakee Springs, and Wrangell were historically Tlingit villages, they were not allowed to establish village corporations because their populations were mostly non-Tlingit or there were less than twenty-five Native residents living there at the time. A later ANCSA amendment allowed Ketchikan to form a corporation and receive land. Haines, Petersburg, Wrangell and Tenakee have not yet received lands.