A joint resolution entitled: "Self-determination for Puerto Rico".

Title I: Transfer of Powers - Declares the policy of the Congress regarding the decolonization and self-determination of the people of Puerto Rico. States that the powers exercised by the U.S. Government and its agencies and armed forces should be relinquished and transferred to the people of Puerto Rico. Directs the President, 90 days after approval of this resolution, to announce U.S. intentions to withdraw and surrender all rights of possession, supervision, jurisdiction, and control over such territory, including all military reservations, to the people of Puerto Rico. Makes such withdrawal effective upon the convening of a constituent assembly of the people of Puerto Rico.

Title II: The Constituent Assembly - Authorizes an organizing committee of Puerto Rican political parties to convene such constituent assembly and to transfer to it all powers relinquished and transferred by the U.S. Government. Provides that all laws and regulations to the contrary shall be deemed superseded when the constituent assembly convenes.

Provides that the organizing committee shall prescribe all matters pertaining to the composition and election of such constituent assembly. Provides, also, that only Puerto Rican nationals shall vote for the election of the constituent assembly.

Title III: The Negotiating Commission - Directs the President to appoint a member to represent the United States and directs the Constituent Assembly of Puerto Rico to appoint five members to represent Puerto Rico to negotiate specific terms of U.S.-Puerto Rican relations. Requires such negotiating commission to: (1) take appropriate action if a proposal for any form of free association between the two countries is rejected (or not acted upon within a specified time period); or (2) submit disputed issues to the U.N. International Court of Justice, if such negotiating commission cannot reach an accord on any or all of the terms of such relations.

Title IV: Transition - Provides for the continuation of the customary administration of the functions of the Puerto Rican Government during the transition period, except in those areas that are crucial for the protection of the self-determination of the Puerto Rican people. Requires that a trust for the benefit of Puerto Rican people be created, either in the World Bank or another international banking institution, from U.S. funds that have already been appropriated by Federal law as well as those funds appropriated during the transitory period not to exceed five years. Provides that rights and benefits acquired by Puerto Rican citizens under U.S. law (such as Social Security rights) shall be fully maintained and respected by the United States.