A bill to provide for adherence by the United States to its international legal obligations under the United Nations Charter.

United Nations Participation Act - States that it is the policy of the United States to adhere to its recognized and accepted international legal obligations under the Charter of the United Nations.

Disallows, under the Internal Revenue Code, credits against specified taxes of foreign countries and possessions of the United States, or credits against income, war profits, or excess profits taxes paid or accrued to a foreign country or political subdivision in respect of income from sources within an international territory administered by that foreign country or political subdivision where: (1) such administration has been held to be illegal by the International Court of Justice; and (2) the United States Government has accepted the conclusions of such International Court of Justice opinion.