Establishes rock quarry blasting liability and insurance requirements, dedicated and revolving compensation fund, and tax-based funding mechanism, to facilitate reimbursement of costs expended, by eligible individuals, in remediating certain blasting-related damages.

The Blasting Damages Compensation Act establishes a system to reimburse residential property owners for damage caused by rock quarry blasting operations. It requires quarry operators to conduct pre- and post-blasting assessments of nearby properties, provide public notice of blasting activities, and maintain insurance or self-insurance funds. The bill creates a tax on rock quarry operations ($0.15 per cubic yard of rock excavated) to fund a dedicated compensation fund. Property owners within blast impact zones can apply for reimbursement for repair costs, water supply damage, medical expenses, and other related costs not covered by the quarry's insurance. The fund uses a pro-rata system when funding is limited, with claims needing to be submitted within one year of discovering damage.