Asset Management Improvement Act of 2009

Asset Management Improvement Act of 2009 - Prohibits the Secretary of Housing and Urban Development from imposing restrictions or limitations on the amount of management and related fees for a public housing project which the public housing agency (PHA) determines reasonable, unless such restriction or limitation: (1) is determined pursuant to a negotiated rulemaking convened by the Secretary no earlier than April 1, 2010, with representatives from interested parties; and (2) is effective only on or after January 1, 2012.

Allows any PHA that owns or operates fewer than 500 public housing units under the United States Housing Act of 1937 to elect to be exempt from asset management requirements imposed by the Secretary.

Prohibits the Secretary from imposing any requirement relating to asset management restricting the use by PHAs of amounts for Capital Fund assistance for costs of any PHA central office.

Requires the Secretary to ensure that PHAs encourage the reasonable efforts of residents to organize.

Prohibits anything in this Act from being construed to make illegal immigrants eligible for housing assistance.

Prohibits the Secretary from accepting any fees for enforcing a lease that requires the registration, or prohibits the possession, of firearms for personal protection or sport, if the registration or possession is not prohibited by law.

Amends the Quality Housing and Work Responsibility Act of 1998 to permit a PHA or owner of federally assisted housing to terminate the tenancy or assistance for any household with a member illegally using a firearm.