Homeland Security Strategy Act of 2001

Homeland Security Strategy Act of 2001 - Directs the President to: (1) develop a comprehensive strategy for homeland security (protection from terrorist or strategic attacks) under which Federal, State, and local government organizations coordinate and cooperate to meet security objectives; (2) conduct a comprehensive threat and risk assessment to identify specific homeland security threats; (3) implement the resulting strategy as soon as practicable; (4) designate a single Government official responsible for homeland security; and (5) ensure that the strategy is carried out through the heads of appropriate executive departments and agencies.

Requires the Director of the Office of Management and Budget to restructure appropriations accounts as necessary to carry out organizational and operational changes to meet such strategy.