Airport Security Federalization Act of 2001

Secure Transportation for America Act of 2001 - Amends Federal transportation law to establish in the Department of Transportation (DOT) the Transportation Security Administration, to be headed by an Under Secretary of Transportation for Security responsible for security in all modes of transportation, including: (1) civil aviation security; and (2) security responsibilities over nonaviation modes of transportation that are exercised by Administrations of DOT (other than the Federal Aviation Administration (FAA)).

Requires the Under Secretary to assume responsibility for the screening of passengers and property on passenger aircraft in air transportation that originates in the United States or intrastate air transportation.

Sets forth provisions requiring: (1) airport operators to establish air transportation security programs that also provide for a military presence at each airport, including at locations where passengers are screened; (2) the application of certain employment standards and training requirements to airport security personnel, including screeners of passengers and property; (3) the deployment of Federal air marshals on selected passenger flights; (4) specified enhanced aviation-related security measures, including allowing pilots to carry firearms in the cockpit of an aircraft; and (5) submission of passenger manifests from air carriers and foreign air carriers in foreign transportation.

Establishes the Transportation Security Oversight Board to review and approve regulations issued by the Under Secretary with respect to transportation security matters.

Authorizes airport operators to conduct threat assessments with regard to passenger vehicles parked within 300 feet of an airport terminal.