Joint resolution to support the goals of the U.S. Delegation to the Law of the Sea Conference in reaching an equitable and effective international agreement.

Gives Congressional endorsement to the efforts of the United States Delegation to the Third United Nations Conference on the Law of the Sea to achieve a multilateral treaty which articulates the principle that deep seabed resources are the common heritage of all people and should be utilized with a view to distributing revenues to all countries. Endorses particularly the establishment of an International Seabed Authority to regulate such a system.