Commonsense Ozone Regulation Act

Commonsense [sic] Ozone Regulation Act - Prohibits a nonattainment area for ozone classified as extreme as of January 1, 2011, pursuant to the 8-hour national primary ambient air quality standard for ozone promulgated on July 18, 1997, from being subject to any control pursuant to the 1-hour national primary ambient air quality standard for ozone.

Authorizes the Administrator of the Environmental Protection Agency (EPA) to classify such an area pursuant to any rule setting the level of the 8-hour standard for ozone below 0.08 parts per million. Provides that such rule will not apply, and the 8-hour national primary ambient air quality standard for ozone will continue to apply, until six months after a report on the feasibility of compliance with such rule is submitted to Congress and the Administrator.

Applies such requirements with respect to such areas only if the governing board of the responsible local air agency agrees to establish a  local advisory committee to study the feasibility of compliance with such rule.  Requires each feasibility study to address the potential adverse employment impacts of, and the cost of compliance with, such rule for local businesses, agriculture operations, and residents in such areas. Requires such committees to report to such boards on the results of such study no later than five years after such rule is promulgated.