To establish consumer product safety standards and other safety requirements for children's products and to reauthorize and modernize the Consumer Product Safety Commission.


Consumer Product Safety Modernization Act - Makes any children's consumer product containing more than specified amounts of lead a banned hazardous substance under the Federal Hazardous Substances Act.

Lowers the lead level at which paint is a banned hazardous product under the Consumer Product Safety Act.

Requires independent third party testing of children's products.

Provides for a variety of measures to facilitate identifying a product's source, intermediate parties, and end user.

Requires replacing durable infant or toddler product voluntary standards with consumer product safety rules.

Requires, in certain circumstances, that choking warnings be included in associated advertising.

Authorizes appropriations: (1) to carry out the Consumer Product Safety Act and any other provision of law the Consumer Product Safety Commission (CPSC) carries out; and (2) for capital improvements to the Commission's research, development, and testing facility.

Allows the CPSC to transact business with two members, if they are not of the same political party, until August 3, 2008.

Modifies procedures for promulgating rules and regulations under the Consumer Product Safety Act and the Federal Hazardous Substances Act.

Modifies procedures regarding the public disclosure by the CPSC of information regarding a consumer product.

Allows the CPSC to prohibit product stockpiling.

Requires notice to the CPSC if a consumer product fails to comply with a rule under the Federal Hazardous Substances Act, the Flammable Fabrics Act, or the Poison Prevention Packaging Act.

Modifies requirements regarding action plans of manufacturers, distributors, or retailers to deal with products that present a substantial hazard.

Requires manufacturers, distributors, or retailers to give public notice of a substantial product hazard on their Internet website and to third party Internet websites on which the product was for sale.p>

Authorizes the CPSC to prohibit the export of, and makes it unlawful to sell, a product or substance that is not in conformity with applicable requirements.

Increases the maximum civil penalties under the Consumer Product Safety Act, the Federal Hazardous Substances Act, and the Flammable Fabrics Act.

Authorizes the forfeiture of assets associated with the violation of any Act enforced by the CPSC.

Authorizes the CPSC, in certain circumstances, to make certain information obtained by the Commission available to any federal, state, local, or foreign government agency.

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