Terrorism Victim's Access to Compensation Act of 2002

Terrorism Victim's Access to Compensation Act of 2002 - (Sec. 3) Expresses the sense of Congress that it should be the policy of the United States: (1) to use the blocked assets of state sponsors of acts of terrorism (including their agencies and instrumentalities) under the control of the Secretary of the Treasury to pay court-ordered judgments and awards made to U.S. nationals harmed by such acts; and (2) to provide equal access to all U.S. victims of state-sponsored terrorism who have secured judgments and awards in Federal courts against state sponsors of terrorism, and assure that those judgments and awards be paid from such blocked assets.

(Sec. 4) Subjects to execution or attachment in aid of execution the blocked assets of terrorists (including terrorist organizations and state sponsors of terrorism) in order to satisfy a judgment on a claim based upon an act of terrorism, to the extent that the parties have been adjudged liable for compensatory damages.

Permits a presidential waiver (with certain exceptions) of such attachment against property subject to the Vienna Convention on Diplomatic Relations, or the Vienna Convention on Consular Relations, after the President determines on an asset-by-asset basis that it is necessary in the national security interest.

Amends the Victims of Trafficking and Violence Protection Act of 2000 to: (1) revise the time frame under which certain claimants who file suit are considered eligible for payment in connection with certain anti-terrorism judgments against Iran or Cuba; and (2) prescribe guidelines for the distribution of foreign military sales funds inadequate to satisfy the full amount of compensatory awards against Iran.