Transitional Medical Assistance Improvement Act of 2001

Transitional Medical Assistance Improvement Act of 2001 - Amends title XIX (Medicaid) of the Social Security Act (SSA) to revise the program commonly referred to as the transitional medical assistance (TMA) program. Authorizes States to: (1) extend the eligibility for TMA of low-income individuals for up to 12 additional months; and (2) allow another six months of eligibility, in certain circumstances, in the case of family eligible for or receiving Medicaid for less than three of the previous six months. Repeals the sunset date for TMA (thus making the program permanent).