To convey certain submerged lands to the Government of the Virgin Islands, and for other purposes.

Conveys to the U.S. Virgin Islands specified submerged lands in the area between the island of Saint Croix and the islands of Saint Thomas and Saint John. States that for purposes of U.S. laws, except as otherwise provided by international law or international agreement in force for the United States, the U.S. Virgin Islands' territorial waters shall extend 12 miles seaward from the line of ordinary low water along that portion of the coast which is in direct contact with the open sea and the line marking the seaward limit of inland waters.