Tax Relief Improvement Act of 2001

Tax Relief Improvement Act of 2001 - Amends the Internal Revenue Code (IRC) to reduce individual capital gains tax rates.

Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to repeal title IX (Compliance with Congressional Budget Act).

Makes permanent IRC provisions relating to: (1) the deduction for higher education expenses; (2) the nonrefundable credit to certain individuals for elective deferrals and IRA contributions; and (3) the increase in the alternative minimum tax exemption.