Veterans' Judicial Review Act

Veterans' Judicial Review Act - Subjects the Veterans Administration's (VA) rulemaking procedures (with regard to any matter relating to loans, grants, or benefits) to the requirements of the Administrative Procedure Act. Provides for the judicial review of actions of the Administrator of Veterans Affairs in the U.S. Courts of Appeals.

Revises provisions regarding payment of attorneys' fees in connection with a claim for benefits under laws administered by the VA to: (1) direct the Board of Veterans' Appeals (currently the Administrator) to approve reasonable attorneys' fees to be paid by the claimant to attorneys for representation before the VA; and (2) provide dollar limits for services rendered prior to the issuance of a notice of disagreement and for services in connection with a challenge to the validity of VA regulations.

Authorizes a U.S. Court of Appeals, in a VA benefits matter resolved favorably to the claimant, to determine and allow a reasonable attorneys' fee to be paid by the claimant. Allows such court to determine the fee (not to exceed $750) in a case resolved unfavorably to the claimant. Authorizes such court to award reasonable attorneys' fees and court costs to the prevailing party.

Directs the Administrator, to the extent that past-due benefits are awarded in proceedings before the VA, to direct that payment of attorneys' fees be made out of such past-due benefits.

Repeals current Federal law requiring the Board of Veterans' Appeals to be bound in its decisions by regulations of the VA, instructions of the Administrator, and the precedent opinions of the chief law officer.

Provides that when an appellant before the Board has challenged the validity of regulations of the VA involved in his or her case, he or she shall be afforded the right to have such challenges adjudicated and resolved by the Board, subject to review by the U.S. Court of Appeals. Allows the Administrator to appeal before the Court of Appeals for the Federal Circuit a Board decision that a regulation of the VA is invalid. Directs the reviewing court to hold unlawful and set aside regulations found to be: (1) contrary to constitutional right, power, privilege, or immunity; (2) in excess of statutory jurisdiction, authority, or limitations; or (3) resting upon a policy judgment, reasoning, or factual premise so unacceptable as to render the regulation arbitrary.

Authorizes the Board to review the reasonableness of any arrangement for payment of attorneys' fees by a claimant during proceedings within the VA or before the Board and to reduce fees it finds excessive.

Repeals a current Federal provision making the Board directly responsible to the Administrator. Requires the Chairman and Vice Chairman of the Board to be appointed by the President with the advice and consent of the Senate for a 15-year term. Provides that regular members of the Board shall be appointed by the Chairman with the approval of the President. (Under current law, the Chairman, Vice Chairman, and members are appointed by the Administrator with the President's approval.) Requires the Chairman (currently, the Administrator) to report to the Congress annually on the Board's activities. Prohibits Board members from receiving bonuses in addition to their regular salaries. Requires the Administrator to allocate sufficient resources to enable the Board to carry out its responsibilities.