Assured Compensation for First Responders Act - Repeals the Public Readiness and Emergency Preparedness Act (Division C of the Department of Defense, Emergency Supplemental Appropriations to Address Hurricanes in the Gulf of Mexico, and Pandemic Influenza Act, 2006).
Amends the Public Health Service Act to establish the Biodefense Injury Compensation Program to provide compensation for death or any injury, illness, disability, or condition that is likely to have been caused by the administration of a covered countermeasure pursuant to a declaration by the Secretary of Health and Human Services that an actual or potential bioterrorist incident or public health emergency makes such administration to a category of individuals advisable.
Requires the Secretary: (1) after making such a declaration, to enter into a contract for the Institute of Medicine to provide its recommendations on the injuries, disabilities, illnesses, and conditions likely to have been caused by the countermeasure; and (2) after receiving such recommendations, to specify those injuries, disabilities, illnesses, and conditions deemed to be included in the Vaccine Injury Table.
Sets the effective date for such Program as November 25, 2002.