A bill to amend or repeal certain provisions of the organic acts applicable to the Virgin Islands, and for other purposes.

Title I - Amends the Revised Organic Act of the Virgin Islands to declare that the Islands' government has the powers set forth in such Act and in the Virgin Islands' constitution. Makes certain provisions of the U.S. Constitution applicable to the Virgin Islands. Deletes certain limitations on the legislative authority and power of the Virgin Islands. Requires the U.S. laws applicable to the Islands to remain in force unless Congress provides otherwise.

Retains the provision which authorizes the Governor of the Virgin Islands to request military assistance in emergencies from the U.S. armed forces in the Virgin Islands or Puerto Rico.

Vests judicial power in, and sets forth the jurisdiction of, the District Court of the Virgin Islands and the Islands' appellate and local courts. Sets forth the relationship between U.S. courts and the courts of the Virgin Islands. Provides for appeals from the lower local courts pending the establishment of the appellate court called for in the Islands' constitution. Sets forth the composition of the district court's appellate division. Grants the U.S. Court of Appeals for the Third District jurisdiction over appeals from the district court's appellate division.

Provides for the appointment, tenure, removal, and compensation of the district judges. Makes Federal rules on bankruptcy, criminal procedure, and judicial procedure applicable to the district court and to appeals from the district court under certain circumstances. Divides the Virgin Islands into two judicial divisions. Deletes the provisions for filling a vacancy in the U.S. attorney's office.

Deletes the provision requiring the Islands' government officials and employees to take a loyalty oath.

Sets forth the relationship between the Federal Government and the Islands' government.

Repeals specified provisions of the Revised Organic Act of the Virgin Islands.

Amends the Organic Act of the Virgin Islands to require Federal copyright laws to apply to the Islands. Deems specified provisions of such Act and other specified Acts to have expired or been superseded.

Title II - Amends the Organic Act of Guam to authorize initiatives and referenda in Guam. Sets forth the referendum procedure. Subjects to recall the Lieutenant Governor and the members of the legislature.

Directs Customs and Postal Service officials to assist officials of the Virgin Islands in collecting local excise taxes.

Changes the date for transferring certain Federal and Trust Territory property to various island governments. Makes such date the termination date of the agreement governing the administration of the Trust Territory of the Pacific Islands instead of October 1, 1982.

Authorizes appropriations for grants to certain territories and possessions to offset reductions in, or termination of, Federal grant-in-aid programs and to reimburse certain areas for revenue reduction caused by Federal tax revisions or reductions.