Childproof Handgun Act of 2001

Childproof Handgun Act of 2001 - Amends the Brady Handgun Violence Prevention Act to prohibit a licensed manufacturer from manufacturing a handgun that cannot be personalized (i.e., integrated with a device or feature that allows it to be fired only by a particular individual, that is incapable of being readily deactivated, and that may allow the handgun to be personalized to an addition individual), except for an individual acting under the authority of the United States or any State department or agency, or of a political subdivision of a State. Sets penalties and an effective date (depending upon the findings of a report of commercial feasibility).

Requires the Director of the National Institute of Justice to conduct a study of the state of the technology involved in personalizing firearms, determine whether such technology will be commercially feasible within five years after this Act's enactment date, and report to Congress. Sets forth factors to be considered in determining commercial feasibility.

Directs the Attorney General, acting through the Director, to make grants to applicants that submit an application that meets specified requirements for the purpose of reducing violence caused by firearms through the development and improvement of personalized handgun technology. Limits the period of a grant to two years.