Army Corps of Engineers Reform and Community Relations Improvement Act of 2001

Army Corps of Engineers Reform and Community Relations Improvement Act of 2001 - Directs the Secretary of the Army to transmit to Congress: (1) a list of Federal lands that no longer serve a resource project purpose or compelling program or project need; and (2) a plan regarding project cost-sharing at water resource projects that are leased by non-Federal interests. Requires: (1) public hearings before the commencement of any work at a Federal water resource project; and (2) independent review of any projects that have an estimated total cost of more than $25 million, are determined likely to have significant adverse impacts on fish or wildlife, or are controversial.

Requires the Secretary to: (1) ensure the public availability of all information and data related to the analysis of a water resource project by the Army Corps of Engineers (with an exception for trade secrets); and (2) transmit to Congress a list of all water resource projects in the construction backlog, requiring specified information for each project type.

Requires: (1) negative benefits (including net adverse impacts to flood control, navigation, recreation, water supply, irrigation, and hydropower) to be included when evaluating a civil works project's national economic development benefits; (2) efficient project management and operation practices; (3) limiting projects only to those that primarily benefit flood damage reduction, navigation, or environmental restoration; and (4) realistic project construction scheduling.

Requires the Secretary to revise principles and guidelines relating to regional impacts of port and harbor projects.

Amends the Water Resources Development Act of 1986 to reduce project construction backlogs through certain project deauthorizations.