(Sec. 5) Requires claimants to provide information to the Special Master concerning the physical harm suffered and any possible economic and noneconomic losses incurred from the bombings, as well as the "collateral sources" of compensation received or entitled to be received, defined as life insurance, pension funds, death benefit programs and payments by Federal, State, or local governments. Sets a two-year limit on filing claims, beginning after the promulgation of regulations to implement the Act.
Directs the Special Master to determine whether a claimant is eligible for compensation and, if so, the amount to be disbursed based on harm suffered, facts of the claim, and individual circumstances of the claimant.
Prohibits the Special Master from considering negligence or any other theory of liability with regard to claimants. Requires completion of the review and determination of a claim within 120 days after it is filed. Makes the Special Master's decision on a claim final and not subject to judicial review.
Specifies that punitive damages may not be awarded. Requires that any award be reduced by collateral source compensation a claimant has received or is entitled to receive.
Makes eligible to receive compensation any U.S. citizens who suffered physical harm from the bombing of the United States embassy in Nairobi, Kenya, or from the bombing of the embassy in Dar es Salaam, Tanzania. Permits personal representatives of U.S. citizens killed by either bombing to receive compensation on behalf of the deceased.
Limits claims to one per individual. Provides that upon filing a claim, an individual waives the right to seek damages in civil suits in Federal or State courts, except for pursuing collateral source compensation.
(Sec. 6) Requires the Special Master to authorize payments to eligible claimants not later than 20 days after the date on which the determination of the amount has been made.
Declares that this Act constitutes budget authority in advance of appropriations Acts and represents the obligation of the Federal Government to provide for the payment of compensation under the Act.
Authorizes the Attorney General to accept contributions from individuals, business concerns, and other entities to carry out the Act, and directs the Attorney General to use donated funds before appropriated funds.
(Sec. 8) Declares that the United States has the right of subrogation with respect to any claim paid from U.S. funds under the Act.