National Science Foundation Authorization Act of 2001

National Science Foundation Authorization Act of 2001 - Authorizes appropriations to the National Science (NSF) for FY 2002 through 2005, with specific allocations for Research and Related Activities, Education and Human Resources, Major Research Equipment, Salaries and Expenses, and the Office of Inspector General.

Requires NSF, in allocating resources made available for Research and Related Activities, to give priority to increasing average grant size and duration.

Prohibits the Director of NSF from using more than $10,000 in each fiscal year for official consultation, representation, or other extraordinary expenses.

Requires NSF to assess and report to Congress on: (1) the Major Research Instrumentation Program; and (2) precollege and undergraduate programs of NSF that are focused on increasing the numbers of individuals pursuing careers in science, mathematics, and engineering who are from segments of the population underrepresented in these career fields.

Prohibits the application of the Federal Reports Elimination and Sunset Act of 1995 with respect to specified NSF reports.