Federal Election Modernization Act of 2001

Federal Election Modernization Act of 2001 - Establishes the National Commission on the Modernization of Federal Elections to study current and alternate voting methods and issues involving voter accessibility, Federal election administration, and Federal assistance to State and local authorities to improve such administration.

Directs the Commission, after such study, to develop specific recommendations for a report to the President and Congress on which methods of voting and administering elections would: (1) be most convenient, accessible, and easy to use for voters in Federal elections, including members of the Armed Forces, blind and disabled voters, and elderly voters; (2) yield the most accurate and expeditious results in Federal elections; (3) afford all voters an equal opportunity to vote; and (4) be most efficient and cost-effective for use in Federal elections. Requires the Commission also to recommend how the Federal Government can, on a permanent basis, best provide ongoing assistance to State and local authorities to improve administering elections, which existing or new Federal agency should provide such assistance, and what levels of funding will be necessary.

Directs the Attorney General to develop and publish a plan to award and disburse annual Federal Election Modernization Grants to States and localities.