Organization of American States Revitalization and Reform Act of 2010 - States that it is U.S. policy to: (1) promote democracy, human rights, and the rule of law throughout the Western Hemisphere; and (2) support the principles expressed in the Charter of the Organization of American States, the American Declaration on the Rights and Duties of Man, the Inter-American Democratic Charter, and other fundamental instruments of democracy.
Expresses the sense of Congress that the Organization of American States (OAS) should be the primary multilateral diplomatic entity for regional dispute resolution and promotion of democratic governance and institutions.
Directs the Secretary of State to submit a multiyear strategy to the Senate Committee on Foreign Relations and the House Committee on Foreign Affairs that: (1) outlines an approach to the OAS that encourages the adoption of International Public Sector Accounting Standards, provides for a budgeting process that prioritizes mandates, and encourages transparent hiring practices; and (2) reflects inputs and coordination from other executive branch agencies.
Directs the Secretary to report to such committees regarding OAS progress in: (1) implementing International Public Sector Accounting Standards and transparent and merit-based human resource and hiring standards; and (2) adopting the practice of soliciting member quotas to be paid on a quarterly basis in order to improve operating budget consistency.