Endangered Species Recovery Act of 2001

Endangered Species Recovery Act of 2001 - Amends the Endangered Species Act of 1973 (the Act) to require the Secretary of the Interior or Commerce, as appropriate, to designate: (1) survival habitat concurrently with making a determination that a species is endangered or threatened; (2) critical habitat concurrently with adoption of a final recovery plan for a species; and (3) survival and critical habitat in the case of a highly migratory marine species. Requires the Secretary to designate survival habitat based only on biological factors, giving special consideration to habitat currently occupied by the species.

Establishes a schedule for publishing species listing determinations.

Provides for draft and final recovery plans for the conservation of endangered and threatened species.

Requires Federal agencies to monitor the status and trends of endangered, threatened, and candidate species on lands or waters under their administration.

Applies provisions regarding interagency cooperation and consultation to species in a foreign country or on the high seas.

Requires the Secretary to: (1) undertake to conserve species where a permittee defaults on permit or plan obligations; and (2) implement a streamlined application and approval procedure for incidental take permits and plans determined to be low effect, small scale plans.

Sets forth requirements for the deposit of performance bonds and other financial security by incidental take permit (other than low effect, small scale) applicants.

Establishes the Habitat Conservation Plan Fund.

Directs the Secretary to establish a Community Assistance Program to provide timely and accurate information to local governments or property owners.

Makes persons who negligently damage any member or habitat of an endangered or threatened species liable to the United States and a State for the restoration or replacement costs.

Authorizes the Secretary to enter into endangered species conservation agreements with owners or lessees of real property on which conservation measures for endangered, threatened, or candidate species or species proposed for listing are to be carried out.

Amends the Internal Revenue Code to require that the value of a taxable estate be determined by deducting from the value of the gross estate the value of included real property subject to an endangered species conservation agreement.

Allows an additional tax deduction for real property taxes imposed on State and local property subject to such agreements. Allows a tax credit for costs incurred in connection with such agreements.

Extends the authorization of appropriations to carry out the Act.