World Trade Center Attack Claims Act

World Trade Center Attack Claims Act - Establishes within the Federal Emergency Management Agency (FEMA) the Office of World Trade Center Attack Claims. Entitles persons (individuals and entities) who suffered injury as a result of the attack on the World Trade Center on September 11, 2001, and who reside or maintain a place of business in a designated area in lower Manhattan to Federal compensation. Requires the Director of FEMA (or an Independent Claims Manager if appointed to head such Office) to investigate and deny or pay (and determine appropriate amounts for) claims submitted for such compensation.

Requires an injured person to use a claim payment only to continue repair, replace, start, establish, or locate in New York City a business or residence that was located in the designated area before the attack. Limits claim payments to: (1) the amount necessary to compensate for injuries suffered during the 18-month period following the attack; and (2) $500,000, with exceptions. Prescribes types of compensable injury, including uninsured or under-insured property loss, damage to physical infrastructure or to tangible assets or inventory, and business interruption loss. Requires the Director to reduce the amount to be paid for any claim by the amounts of any insurance or other Federal assistance program payments or charitable financial assistance in order to prevent a claimant's recovery in excess of actual compensatory damages.

Requires the Director to establish procedures under which a claim dispute may be settled by arbitration and provides for judicial review of the Director's decisions.

Provides that nothing in this Act affects any right of an injured person to request benefits under any Federal entitlement program.