Independent Telecommunications Consumer Enhancement Act of 2001

Independent Telecommunications Consumer Enhancement Act of 2001 - Amends the Communications Act of 1934 to define a "two percent carrier" as an incumbent local telecommunications exchange carrier whose access lines are fewer than two percent of the Nation's subscriber lines installed in the aggregate nationwide.

Directs the Federal Communications Commission (FCC), in adopting rules that apply to incumbent local exchange carriers, to separately evaluate the burden that any proposed regulatory, compliance, or reporting requirements would have on two percent carriers.

Prohibits the FCC from requiring a two percent carrier to: (1) file cost allocation manuals or Automated Reporting and Management Information systems; or (2) establish or maintain a separate affiliate to provide any common carrier or noncommon carrier services or to maintain separate officers, personnel, facilities, books or accounts, or other operations.

States that the participation or withdrawal from participation by a two percent carrier of one or more study areas in the common line tariff administered and filed by the National Exchange Carrier Association or any successor tariff or administrator shall not obligate such carrier to participate or withdraw from participation in such tariff for any other study area. Allows the FCC to require a two percent carrier to give 60 days notice of its intent to participate or withdraw.

Allows any two percent carrier to deaverage its interstate switched or special rates and file contract-based tariffs for interstate switched or special access services immediately upon certifying to the FCC that an unaffiliated carrier has engaged in facilities-based entry within such carrier's service area.

Provides limitations on FCC review of a two percent carrier's merger or acquisitions.

Requires FCC determination within 90 days with respect to a two percent carrier's request for reconsideration or other review of an FCC rule, policy, or other requirement.