Offshore Territories Economic Development Act

[AI summary unavailable — showing source text] Offshore Territories Economic Development Act - Authorizes the Secretary of the Interior to make grants for each of fiscal years 1982 through 1984 to Puerto Rico, Guam, the Virgin Islands, and American Samoa. Prohibits such grant for any fiscal year in which a territorial economic development plan setting forth the economic development needs of the territory has not been submitted by the Governor of the territory and approved by the Secretary. Directs the Secretary to report annually to Congress on the expenditure of funds under this Act. Authorizes appropriations for each of fiscal years 1982 through 1984 for purposes of this Act.…