United States Olympic Committee Reform Act - Amends the Ted Stevens Olympic and Amateur Sports Act to limit the stated purposes of the United States Olympic Committee.
Provides new governance provisions for the Committee. Establishes a nine-member Board of Directors to: (1) oversee the Committee's operations; (2) set policy for the Committee; (3) establish a Nominating and Governance Committee; (4) elect new Board members and the Board chair; (5) select and evaluate the Chief Executive Officer required by this Act; and (6) oversee the U.S. bid city process and monitor the organizing committee of the U.S. Olympic Games. Authorizes the removal of Board members for cause.
Requires the Committee to establish an Olympic Assembly in which all constituencies of the Committee are represented.
Directs the Committee to maintain a standards and compliance program. Requires the Board to appoint an independent commission to conduct and submit to Congress ten-year reviews of the Committee's governance structure.
Sets forth transition provisions.
Gives the Board responsibility for hiring an ombudsman for athletes.
Requires the Committee to submit annual reports on its operations to the President and Congress.
Requires the Secretary of Commerce to make grants to qualifying State entities to promote tourism in conjunction with U.S.-based Olympic or Pan-American Games.
Requires the Secretary to conduct a study on the projected impact on commerce of a U.S. bid city hosting the Olympic Games and to report the findings of such study to the House Energy and Commerce Committee and the Senate Commerce, Science, and Transportation Committee.