Ballistic Missile Defense Act of 2001

Ballistic Missile Defense Act of 2001 - Prohibits the obligation or expenditure of ballistic missile defense funding under the National Defense Authorization Act for FY 2002 for any activity inconsistent with the requirements of the Anti-Ballistic Missile Treaty of 1972 (ABM Treaty) unless such Treaty is modified in a way which permits such activity or the President certifies the failure of good faith efforts to develop a new strategic framework or modify such treaty. Requires the passage of a joint resolution specifically authorizing such obligation or expenditure.

Sets forth the program elements required to be submitted in support of any budget requests for activities of the Ballistic Missile Defense Organization. Requires budget justification materials to also specify the amounts requested for specific categories of systems and established programs. Permits the Secretary of Defense to obligate additional funds for an established program or class of systems, subject to specified limits and notification requirements.

Directs the Secretary to submit to the congressional defense committees an annual program plan and an annually updated baseline document for the ballistic missile defense research and development program.