Indian Development Finance Corporation Act

(Measure passed House, amended)

Omnibus Insular Areas Act of 1988 - Authorizes the Ninth Judicial Circuit of the United States to provide assistance to the courts of the freely associated States (Micronesia, the Marshall Islands, and Palau). Permits the Chief Justice of the United States or the chief judge of the Ninth Judicial Circuit to authorize any circuit judge of, or district judge within, the Ninth Circuit to serve temporarily as a judge of any court of a freely associated State.

Authorizes the President to negotiate agreements which provide that: (1) the United States will regulate the distribution of controlled substances in the freely associated States; and (2) the freely associated States will be treated as foreign countries for the purposes of such distribution if they agree to international conventions on distribution.

Designates the Northern Marianas College as a depository to receive Government publications and directs the Superintendent of Documents to supply to the College one copy of each such publication.

Waives the requirement for local matching funds in order to have a Federal program or project apply to, or take place in, the Insular Areas.

Amends the Revised Organic Act of the Virgin Islands to repeal the requirements that the District Court of the Virgin Islands for the Division of Saint Croix be held in Christiansted and for the Division of Saint Thomas and Saint John at Charlotte Amalie.

Increases to 50 percent (currently, 30 percent) the amount Guam may use for port development and not pay to the Federal Government.

Authorizes such sums as may be necessary for the design and construction of the Nanpil River hydropower diversion project in the Federated States of Micronesia.