Justice for the Living Victims of Lockerbie Act This bill establishes a mechanism for compensating certain victims of the bombing of Pan American Flight 103 over Lockerbie, Scotland, on December 21, 1988. Specifically, the Department of the Treasury must establish a fund to compensate qualifying victims of the bombing (generally, former employees of Pan American who were part of an earlier lawsuit seeking compensation from Libya for the bombing). The Foreign Claims Settlement Commission must establish a process for claimants to apply for compensation from the fund.