Coast Guard Authorization Act of 2001

Coast Guard Authorization Act of 2001 - Authorizes appropriations for the Coast Guard for FY 2002 for: (1) operation and maintenance; (2) acquisition, construction, rebuilding, and improvement of aids to navigation, shore and offshore facilities, vessels, and aircraft, including equipment related thereto; (3) research, development, test, and evaluation of technologies, materials, and human factors directly relating to improving the performance of the Coast Guard's mission in support of search and rescue, aids to navigation, marine safety, marine environmental protection, enforcement of laws and treaties, ice operations, oceanographic research, and defense readiness; (4) retired pay (including the payment of obligations otherwise chargeable to lapsed appropriations for this purpose), payments under the Retired Serviceman's Family Protection and Survivor Benefit Plans, and payments for medical care of retired personnel and their dependents; (5) alteration or removal of bridges over navigable waters of the United States constituting obstructions to navigation, and for personnel and administrative costs associated with the Bridge Alteration Program; and (6) environmental compliance and restoration at Coast Guard facilities (other than parts and equipment associated with operations and maintenance).

Authorizes the Coast Guard for an end-of-year strength for active duty personnel of 44,000 as of September 30, 2002.

Authorizes Coast Guard average military training student loads as follows: (1) for recruit and special training for FY 2002, 1,500 student years; (2) for flight training for FY 2002, 125 student years; (3) for professional training in military and civilian institutions for FY 2002, 300 student years; and (4) for officer acquisition for FY 2002, 1,000 student years.

Requires any new vessel constructed for the Coast Guard with amounts made available under this Act: (1) to be constructed in the United States; (2) to not be constructed of steel or iron produced outside of the United States; and (3) to be constructed in compliance with the Buy American Act. Permits the use of non-U.S. steel or iron if it is found that: (1) it would be consistent with the public interest; (2) U. S. steel or iron is not produced in sufficient and reasonably available quantities and is not of a satisfactory quality; or (3) the use of U.S. steel or iron will increase the cost of the overall project contract by more than 25 percent.