Veterans Radiation Exposure Compensation Act

Veterans Radiation Exposure Compensation Act - Provides a presumption of service-connected disability to any veteran who, while serving in the armed forces during a period of war, was exposed to ionizing radiation as a result of nuclear testing by the United States, and who has or has had leukemia, thyroid or bone cancer, or any other disease listed by the advisory panel established by this Act. Entitles any such veteran to wartime disability compensation and wartime death compensation (for death which occurred prior to January 1, 1957). Entitles any veteran who was so exposed during active military, naval, or air service, and who later developed such a disease, to hospital care for psychosis and burial benefits.

Establishes within the National Cancer Institute an Advisory Panel on the Health Effects of Exposure to Radiation to conduct a study to identify those types of diseases likely to develop in human beings after exposure to low-level radiation. Sets forth the method of procedure for such panel and directs the panel to report to the Congress on the results of its study not later than nine months after the date it convenes. Terminates such panel three months after its report to the Congress. Exempts such panel from the provisions of the Federal Advisory Committee Act.