America's Cup Act of 2011 - Authorizes vessels operating in preparation for, or in connection with, the 34th America's Cup competition, that have been certified by the Administrator of the Maritime Administration to be eligible vessels, to position competing vessels and transport individuals, equipment, and supplies utilized for the staging, operations, or broadcast of the competition from and around U.S. ports. Deems such an eligibility certification to be conclusive evidence to the Secretary of the Department of Homeland Security (DHS) of the qualification of a vessel to participate in the competition. Subjects any vessel participating in the 34th America's Cup as a competing or supporting vessel that has not received an eligibility certification or that is not in compliance with provisions regarding coastwise endorsement to specified penalties.
Directs the Secretary of the department in which the Coast Guard is operating to issue a certificate of documentation with a coastwise endorsement limited to the carriage of natural gas for the LNG GEMINI, the LNG LEO, and the LNG VIRGO. Terminates such endorsement if such a vessel's owner on the date of enactment of this Act sells it to a person who is not related by ownership or control.
Declares that a vessel transported in Dry Dock #2 (Alaska registration AIDEA FDD-2) is not merchandise for purposes of requirements applicable to transporting merchandise between points in the United States to which the coastwise laws apply if, during such transportation, Dry Dock #2 remains connected by a utility or other connecting line to pier side moorage located in Ketchikan, Alaska.