Justice for Victims of Torture and Terrorism Act - Terminates the authority of the President to grant the government of Iraq immunity from actions by victims of terrorism seeking compensation for injuries caused by officials, employees, or agents of the government of Iraq during the 1991 Gulf War when such government was classified as a state sponsor of terrorism, unless the President certifies to Congress that Iraq has adequately settled specified claims of U.S. soldiers and civilians held in Iraq as POWs and hostages and subject to state-sponsored torture and terrorism.
Provides an exception to the termination of such authority if the President certifies that: (1) Iraq has not compensated any foreign persons or entities for claims or liabilities incurred by or under the control of the Saddam Hussein regime, including commercial or financial claims and claims for acts against individuals similar to those described above; or (2) negotiations are ongoing with Iraq to settle the American claims, and the President believes that those negotiations are being conducted in good faith and could lead to a satisfactory settlement. Limits the latter certification period to 180 days (with authorized renewals by the President).
Defines various adequate settlement amounts, depending on the victim, length of torture or detainment, etc.
Prohibits the use of any U.S. funds to pay any claim covered under this Act.