A bill to convey mineral rights in certain submerged lands to the governments of Guam, the Virgin Islands, and American Samoa.

Directs the Secretary of the Interior to convey to the government of Guam, the government of the Virgin Islands, and the government of American Samoa, all right, title, and interest of the United States in deposits of oil, gas, and other minerals in the submerged lands conveyed to the governments of such territories not later than 60 days after the enactment of this Act.

States that such conveyance shall be subject to any existing lease, permit, or other interest granted by the United States prior to the date of such conveyance. Provides that rentals, royalties, and fees which accrue after such date shall be payable to the government of the territory to which the mineral deposits have been conveyed.