Homeland Security Fund Act of 2002

Homeland Security Fund Act of 2002 - Amends the Federal Internal Revenue Code to authorize each taxpayer to designate $3 of tax liability to a Homeland Security Fund established by this Act. Authorizes disbursements from the fund prior to January 1, 2007, for a variety of purposes, including: (1) helping law enforcement battle terrorism; (2) securing all modes of transportation; and (3) preventing proliferation of weapons of mass destruction and helping the military to fight terrorism.

Establishes an Office of Homeland Security, to be headed by a Director of Homeland Security. Grants the Director cabinet-level status. Assigns the Director tasks coordinating the effort by the Federal, State, and local governments to safeguard the nation from terrorism. Directs the Director, among other tasks, to: (1) develop a national strategy for homeland security in consultation with Congress and Federal and State agencies; and (2) establish a national budget for homeland security in collaboration with the Director of the Office of Management and Budget.