To convey certain submerged lands to the Commonwealth of the Northern Mariana Islands in order to give that territory the same benefits in its submerged lands as Guam, the Virgin Islands, and American Samoa have in their submerged lands.

Conveys to the government of the Commonwealth of the Northern Mariana Islands submerged lands surrounding such Islands and extending three geographical miles outward from their coastlines.

States that Public Law 93-435 is intended to be applied in a consistent manner to Guam, the Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands, except to the extent that there is a specific and express exception regarding its application to one or more of these territories.