Section 1 - Sets forth the bill's title - "The Interstate Class Action Jurisdiction Act of 1999."

Section 2 - States findings about the purposes of the act.

Section 3 - Grants federal district courts original jurisdiction over class actions in which there is minimal diversity (that is, any member of a proposed plaintiff class is a citizen of a state different from any defendant). Clarifies the meaning of minimal diversity where corporate entities are involved.

Requires federal district courts to abstain from hearing (a) local cases (cases in which the substantial majority of the plaintiff class members are citizens of a single State of which the primary defendants are also citizens and the claims asserted will be governed primarily by the laws of that State); (b) limited scope cases (cases involving fewer than 100 class members or less than $1 million); (c) state action cases (cases against States, State officials, or other governmental entities).

Makes the Act Applicable to any "covered class action" or any "exclusively derivative action" as those terms are defined in the Securities Litigation Uniform Standards Act of 1998.

Section 4 - Authorizes removal of class actions to federal court by any (a) defendant without the consent of all defendants or (b) plaintiff class member without the consent of all members. Renders inapplicable to class actions the bar on removing cases after they have been pending for one year (while leaving in place the requirement that cases must be removed within 30 days after notice that there is federal jurisdiction over a matter).

Specifies that nothing in the Act shall alter applicable substantive law.

Directs federal district courts to dismiss any class action removed solely under the Act's class action jurisdiction provisions if the court determines that the action may not proceed as a class action. Provides that if a class action is dismissed under these provisions, claims asserted on behalf of class members shall be deemed tolled to the full extent provided under Federal law. Specifies that nothing in the Act prohibits plaintiffs from filing an amended class action complaint (although it may be removed if subject to federal jurisdiction).