Incurable Disease Research and Treatment Act of 1987

Incurable Disease Research and Treatment Act of 1987 - Amends the Internal Revenue Code to allow individuals to direct that all or part of their income tax refunds be contributed to the Incurable Disease Research and Treatment Trust. Establishes in the Treasury the Incurable Disease Research and Treatment Trust (trust fund) to distribute funds to qualified nonprofit incurable disease services organizations. Appropriates to the trust fund revenue equivalent to amounts designated for such purpose by individual taxpayers. Sets forth standards and procedures for the distribution of trust fund monies. Limits the amount that recipient organizations can pay for administrative expenses to ten percent of amounts received from the trust fund. Prohibits organizations receiving funds from: (1) failing to match payment; (2) failing to use payments properly; (3) incurring excessive administrative expenses; and (4) not complying with certain requests of the Commission on Incurable Diseases. Authorizes this Commission to inform State attorneys general of possible State law violations by organizations. Requires the Commission on Incurable Diseases to submit to specified congressional committees an annual report detailing trust fund expenditures. Establishes the Commission on Incurable Diseases to administer the distribution of funds to qualified incurable disease services organizations on a matching grant basis. Permits a maximum award of $100,000 to any single qualified organization in any fiscal year. Requires that: (1) at least 50 percent of amounts received into the trust fund in any year be paid to qualified organizations; and (2) monies in the trust fund be distributed within 180 days of their receipt in the fund. Sets forth criteria governing Commission powers, organization, and membership. Authorizes appropriations.