Asbestos Health Hazards Compensation Act

Asbestos Health Hazards Compensation Act - Title I: General Provisions - Sets forth the findings and declares the purpose of this Act. States that there is a significant number of persons who suffer disability or death from employment-related diseases caused by the inhalation or ingestion of asbestos and/or the inhalation of asbestos coupled with the inhalation of cigarette tobacco smoke. States that it is the purpose of this Act through the exercise of the power of Congress to regulate commerce among the several States and with foreign nations to provide a schedule of equitable, comprehensive, and exclusive benefits to affected persons who become disabled as a result of an asbestos-related disease and to the dependents of affected persons who die from such diseases.

Title II: Claims for Benefits Accruing on or before December 31, 1979 - Directs the Secretary of Labor to make payments of benefits in respect of disability of any affected person due to asbestos-related disease and in respect of the death of any affected person whose death was due to asbestos-related disease.

Requires the Secretary by regulation to prescribe standards for determining whether an affected person is disabled due to asbestos-related disease; or whether the death of an affected person was due to such disease.

Sets forth the manner in which benefits are to be paid pursuant to the provisions of this Act.

Title III: Claims for Benefits Accruing after December 31, 1979 - States that the responsibility for funding the payment of benefits for all claims accruing or arising on or after January 1, 1980, shall be borne equally by the "responsible parties," as such term is defined in this Act, and the United States.

Establishes within the Department of Labor the Asbestos Health Hazards Compensation Fund. States that all valid claims for benefits under this Title shall be satisfied from such Fund. Establishes a Board of Directors for the Fund and sets forth the duties of such Board.

Provides for the development and maintenance of the Fund by means of equal contributions from the responsible parties and the United States. Vests in the Secretary the responsibility, with the advice and concurrence of the Director of the Internal Revenue Services, of assuring that such contributions are collected from the responsible parties.

Prohibits an employer from discharging or discriminating against any asbestos-afflicted employee because such person has filed a claim for benefits under this Act. Establishes procedures for the relief of persons discharged or discriminated against because of a claim for benefits pursuant to this Act.