Job Creation and Regulatory Freeze Act of 2011

[AI summary unavailable — showing source text] Job Creation and Regulatory Freeze Act of 2011 - Prohibits a federal agency from issuing a covered regulation for the period beginning 30 days after the enactment of this Act and ending January 20, 2013.  Defines a "covered regulation" as a final regulation that did not take effect before September 1, 2011, that directly or indirectly increases costs on businesses in a manner that will have an adverse effect on job creation, job retention, productivity, competitiveness, or the efficient functioning of the economy, and that is likely to: (1) have an annual effect on the economy of $100 million or more; (2) adversely affect in a material way the economy, productivity, competition, jobs, the environment, public health or safety, or state, local, or tribal governments or communities; (3) create a serious inconsistency or otherwise interfere with an action by another agency; (4) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients; or (5) raise novel legal or policy issues. Allows agency heads to exempt covered regulations that: (1) are necessary due to an imminent threat to human health or safety or …