Aboveground Petroleum Storage Tank Consolidation and Regulatory Improvement Act

Aboveground Petroleum Storage Tank Consolidation and Regulatory Improvement Act - Redesignates the Office of Underground Storage Tanks of the Environmental Protection Agency (EPA) and establishes it as the Office of Storage Tanks (OST), to be headed by a Director. Transfers to OST authorities of other EPA officers under the environmental laws. Requires the Administrator, acting through the Director, to enter Memorandums of Understanding with the Secretaries of Labor and Transportation to clarify the authorities of EPA and the respective Secretaries under: (1) the Occupational Safety and Health Act of 1970 and worker protection standards provisions of the Superfund Amendments and Reauthorization Act of 1986; and (2) pipeline safety provisions.

Requires the Director, by regulation, to restate the laws he or she administers in consolidated form and streamline their application to owners and operators of aboveground and underground storage tanks. Expresses congressional intent that this direction is not intended to modify the laws' requirements. Imposes, as part of such regulations, a requirement that an owner or operator of an aboveground storage tank report to the national response center established under the Federal Water Pollution Control Act a release of a regulated substance (one regulated under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 or petroleum or a petroleum substance) above a specified threshold, including a description of corrective action taken. Allows the EPA Administrator, after release from an aboveground storage tank of a regulated substance posing an imminent threat to human health, public safety, or the environment, to prohibit the use or operation of all or any portion of a storage tank farm within a facility in which the tank is located until the prohibition is no longer necessary or corrective action has been taken.

Authorizes the Director to include in the above regulations release detection, prevention, and correction regulations applicable to owners and operators of aboveground petroleum storage tanks. Requires the Director to determine if there are deficiencies in the law applicable to aboveground petroleum storage tanks and examine industry standards addressing the deficiencies, giving substantial weight to these in designing the regulations.

Requires the Director, in conjunction with the restatement of laws required by this Act, to provide that the storage capacity of a facility does not include the capacity of underground storage tanks that are: (1) currently subject to EPA regulations concerning technical standards and corrective action requirements; or (2) permanently closed under such regulations.

Establishes requirements for reports to the Congress.