To authorize the appropriations for construction projects under the Covenant to Establish a Commonwealth of the Northern Mariana Islands in Political Union with the United States of America, and for other purposes.

Authorizes appropriations for the Government of the Northern Mariana Islands for capital infrastructure for FY 1995 and 1996 notwithstanding specified provisions of the December 1992 Agreement of the Special Representatives on Future Federal Financial Assistance for the Northern Mariana Islands. Makes such funding available only to the extent that matching funds are provided by such government on a project-by-project basis.

Repeals a provision that requires direct grant assistance to the Northern Mariana Islands, upon expiration of the period of Federal financial assistance, to continue at the annual level provided for the last fiscal year of the additional period of seven years.