Asbestos Claims Criteria and Compensation Act of 2003

Asbestos Claims Criteria and Compensation Act of 2003 - Requires as an essential element of an asbestos claim that there be physical impairment to which asbestos exposure was a substantial contributing factor. Sets forth prima facie evidence of that impairment, including as a minimum that the exposed person have: (1) at least a Class 2 permanent respiratory impairment rating; (2) asbestosis or diffuse pleural thickening; and (3) a determination of exposure at or above specified levels concerning ratios of FEV1 to FVS or a chest x-ray showing opacities graded at or above specified levels on the ILO scale.

Requires the use of AMA guidelines or other authoritative standards.

Sets forth requirements concerning claim consolidation (with consent only if not members of the same household), venue, preliminary proceedings, and removal.

Delineates the statute of limitations for claims for nonmalignant conditions.