Native American Education Improvement Act of 2001

Native American Education Improvement Act of 2001 - Amends the Education Amendments of 1978 to revise requirements relating to education programs of the Bureau of Indian Affairs (BIA) of the Department of the Interior.

Sets forth requirements for accreditation, and requires published minimum academic standards to be revised and applied to BIA-funded schools not otherwise accredited. Permits BIA-funded schools to elect to meet the applicable standards or be accredited by a tribal, regional, or State accrediting body.

Requires the BIA to establish fiscal and accounting standards for all contract and grant schools.

Revises requirements relating to: (1) tribal approval for closure or consolidation of certain BIA-funded schools or programs; (2) consideration of applications for contracts or grants for non-BIA-funded schools or for expansion of BIA-funded schools; (3) geographical attendance areas for BIA-funded schools; (4) school facilities construction; (5) BIA-education functions; (6) review and revision of an allotment formula for funding BIA-funded schools; (7) administrative cost grants to tribes or tribal organizations operating grant or contract schools; (8) the system of uniform direct funding and support of BIA-funded schools; (9) the policy for Indian control of Indian education; (10) the recruitment of Indian educators; (11) audits of BIA-funded schools; (12) rights of Indian students attending BIA-funded schools; (13) grants for early childhood development programs; (14) grants for tribal departments of education; and (15) procedures for negotiated rulemaking.

Requires joint administrative, transportation, and program cost funds received by BIA-funded schools to be apportioned and retained at such schools. Authorizes their use for schoolwide projects to improve the educational program for all Indian students.

Directs the Comptroller General to study the adequacy of funding and related funding formulae for BIA-funded schools.

Directs the Secretary to revise national standards for home-living (dormitory) situations at BIA-operated schools, including specified factors.

Directs the General Accounting Office to conduct a national survey of the physical conditions of all BIA-funded school facilities. Directs the Secretary to establish a negotiated rulemaking committee to catalogue such conditions for the Secretary and report on school replacement, new construction, and needed renovations and repairs. Requires a long-term construction and replacement priority listing for all BIA-funded education-related facilities. Subjects all functions relating to education at the area or agency level and performed by an education line officer to contracting, unless determined to be inherently Federal functions.

Directs the Director to conduct a comprehensive evaluation of BIA-operated schools, in addition to any other program review or evaluation that may be required.

Amends the Tribally Controlled Schools Act of 1988 to reauthorize and revise requirements for part B grants to Indian tribes and tribal organizations to operate tribally controlled schools, including BIA-funded schools.

Establishes a Tribally Controlled Grant School Endowment Program.