Two-Year Regulatory Freeze Act of 2011 - Prohibits any federal department or agency from publishing new rules or regualtions, or finalizing or otherwise enforcing or giving lawful effect to draft rules or regulations, until January 31, 2013. Exempts a rule which involves U.S. military or foreign affairs functions or matters relating to agency management or personnel or to public property, loans, grants, benefits, or contracts, or for which notice of proposed rulemaking is not otherwise required.
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