Territorial Assistance Act of 1980

Territorial Assistance Act of 1980 - Title I: Tax Matching Grants - Authorizes the Secretary of the Interior to make tax matching grants to the governments of Guam and the Virgin Islands. Declares that such grants shall be based on a formula that includes a ratio of the territory's local tax collections to the per capita income of the territory, and shall be paid on a quarterly basis during fiscal years 1982 through 1985. Prescribes limits on annual grant payments.

Directs the Governors of Guam and the Virgin Islands, by July 1, 1981, to submit to the Secretary for approval a plan designed to eliminate the respective territory's general fund deficits by the beginning of fiscal year 1985. Requires that such plan provide for: (1) implementation of an effective budgeting and accounting system; and (2) quarterly goals and timetables.

Prohibits the Secretary from making any tax matching grants until such plan has been approved. Directs the Secretary to withhold any quarterly grant payments upon determining that a territory is not meeting the goals on timetables established in the plan. Requires each Governor to report to the Secretary on the success or failure of the territory in meeting such goals and timetables.

Title II: Technical Assistance - Authorizes the Secretary to provide the governments of American Samoa, Guam, the Northern Mariana Islands, the Virgin Islands, and the Trust Territory of the Pacific Islands technical assistance on subjects within the responsibility of the respective territorial governments.

Title III: Commission on Federal Laws in the Territories - Establishes the Commission on Federal Laws in the Territories to study the applicability of laws of the United States to the Virgin Islands, Guam, and American Samoa, and to recommend such extensions of, exemptions from, or modifications to such laws as may facilitate the political, social, and economic development of such territories.

Requires the Commission, within two years after appropriations are made available under this title, to report to the President concerning its findings and recommendations for legislative or administrative action. Terminates the Commission ten days after such report is submitted.

Title IV: Construction Funds Matching Requirement - Requires the governments of the Virgin Islands, Guam, American Samoa, or the Northern Mariana Islands to contribute at least ten percent of the total cost of any capital improvement project funded by a grant from the Department of the Interior, excluding projects funded with moneys received under the Covenant to Establish a Commonwealth of the Northern Mariana Islands in Political Union with the United States of America.