Anti-Aeroterrorism and Terrorist Bounty Act of 1987

Anti-Aeroterrorism and Terrorist Bounty Act of 1987 - Title I: Foreign Airport Security - Creates the Foreign Airport Security Corporation (the Corporation) under the supervision of the Secretary of Transportation. Requires the Corporation to screen passengers and property and provide security for air carriers at airports in foreign nations that agree to permit the Corporation to carry out those functions.

Imposes a fee on all air travelers if their air transportation begins outside the United States and ends in the United States and is provided by a foreign air carrier. Establishes a Foreign Airport Security Trust Fund (the Trust Fund) where receipts from such fees shall be transferred. Requires that money in the Trust Fund shall be used to carry out the functions of the Corporation.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exempt money in the Trust Fund from sequestration orders under such Act.

Title II: Commission on International Terrorism - Requires the President to establish the Presidential Commission on International Terrorism which shall be responsible for: (1) conducting an ongoing evaluation of international terrorism; (2) monitoring the activities of Federal agencies relating to international terrorism; and (3) periodically recommending methods of combatting international terrorism.

Title III: Bounty on International Terrorists - Amends the State Department Basic Authorities Act of 1956 to increase the amount of, and requires (current law authorizes) payment of, an award for information about international terrorists.