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This Act provides for the establishment of Village and Agricultural Homesteading Program in the Northern Islands. It amends Title 2, Division 4 of the Commonwealth Code so as to insert a new article 9, which designates an Agricultural Homestead Area and provides rules for the use, transfer, etc. of property in the area. Areas shall be allotted to qualified persons for the purpose of establishing and developing village lots or agricultural lots with the right to acquire title upon the fulfilment of the conditions prescribed in this Act. The Department of Public Lands shall determine and establish: the maximum size of land allowable for homesteading of village or agricultural lot to persons qualified pursuant to this Act; standards and requirements for the use, occupation and development of village or agricultural homestead lots.