Federal Communications Commission Process Reform Act of 2011 - Amends the Communications Act of 1934 to establish procedural requirements for the Federal Communications Commission (FCC) concerning: (1) the issuance of proposed rulemaking notices, including the time periods for comments and replies and any necessary findings, background information, or performance measures that must be contained in such notices; (2) the circumstances under which the FCC is authorized to adopt or amend a rule; and (3) the disclosure of closed meetings held by a bipartisan majority of FCC Commissioners.
Requires the FCC, before adopting or amending a rule that may have an economically significant impact, to: (1) analyze the specified market failure, actual consumer harm, burden of existing regulation, or failure of public institutions that warrants the rule or amendment; and (2) determine that the benefits justify its costs.
Directs the FCC to establish rules for: (1) Commissioners' deliberations including procedures for initiating agenda items and approving orders; and (2) the publication of the status of open rulemakings and all proposed orders, decisions, reports, or actions on circulation for review.
Prohibits the FCC, without providing an opportunity for public review, from relying on unpublished reports to Congress or ex parte FCC communications or filings under specified circumstances.
Directs the FCC to publish on its website and in other required formats: (1) each order, decision, report, or action within seven days of its adoption; and (2) an anticipated release schedule for all statistical reports and reports to Congress.
Sets forth standards that restrict the FCC's authority to conditionally approve line and license transfers and other transactions. Prohibits the FCC from considering a voluntary commitment of a party to such transfer or transaction unless the FCC could adopt that commitment as a condition under such standards.