Program Reform Commission Act - Establishes within the legislative branch an independent Program Reform Commission to: (1) identify federal programs that are no longer necessary or that merit modification; and (2) report to Congress with recommendations for termination, modification, or retention of such programs.
Requires the head of each federal department or agency to include in budget documents submitted for FY2012 a list of programs that it determines are no longer necessary, together with a detailed description of each program in question and recommendations for appropriate action. Directs the Commission to conduct public hearings regarding, and to review, the termination, modification, or retention of all such programs.
Expresses the sense of Congress that, following submission of the Commission's report, the House of Representatives and the Senate should promptly consider legislation to implement the Commission's recommendations.