Campaign Finance Reform and Disclosure Act of 2001

Campaign Finance Reform and Disclosure Act of 2001 - Amends the Federal Election Campaign Act of 1971 to prohibit contributions to candidates for political office by any non-U.S. citizen, regardless of whether he or she is a permanent U.S. resident.

Limits to 40 percent of total contributions acceptance of out-of-State and out-of-Congressional District contributions by Senate and House of Representatives candidates.

Limits reimbursement from campaigns for contributions by Senate candidates and their immediate families. Restricts the use of campaign funds by Senate candidates for personal purposes.

Limits congressional use of the franking privilege.

Modifies multicandidate political committee (PAC) contribution limits, and requires that such limit be indexed annually.

Prohibits a political party committee from accepting contributions conditioned on their use on behalf of a particular candidate.

Exempts communications between a political party and members of the political party from specified spending limitations.

Excludes from the definition of contribution any State or local political party committee payments for certain State and local activities.

Amends the National Labor Relations Act to revise the rights of employees relating to the payment and use of labor organization dues to require an employee's written consent to the use or assignment of any portion of such dues for purposes unrelated to collective bargaining, contract administration, or grievance adjustment.

Provides for expedited Supreme Court review of constitutional issues of this Act or any amendment made by it.