Justice for Victims of Terrorism Act of 2002

This bill would allow American victims of terrorism who have won lawsuits against terrorist groups or state sponsors of terrorism to collect their court-ordered payments from the frozen assets of those entities. It specifically targets assets held by the U.S. government that belong to terrorists or countries designated as sponsors of terrorism, though it allows the President to block the seizure of certain diplomatic properties if doing so is deemed necessary for national security. Additionally, the bill establishes specific rules for distributing funds in cases involving Iran to ensure that victims receive compensation even if available military sales funds are insufficient to cover the full amount of their legal awards.