Dr. Rita Hocog Inos Fellowship Act - Directs the Secretary of the Interior to establish the Dr. Rita Hocog Inos Fellowship Program to award local government and federal government fellowships to qualified students from the Commonwealth of the Northern Mariana Islands. Defines a "qualified student" as a student who is a U.S. citizen, domiciled in that Commonwealth, and enrolled in a degree or certificate program at an institution of higher education. Allows a fellow to receive either a specified stipend or academic credit toward graduation for participating in an internship.