Volunteer Pilot Organization Protection Act of 2006 - Amends the Volunteer Protection Act of 1997 to exempt from liability a nonprofit volunteer pilot organization or a referring agency of such organization that flies for public benefit, its staff members, and its volunteers for harm caused by a volunteer while flying on behalf of the organization an aircraft for which the volunteer was properly licensed and insured, unless the conduct constitutes a federal crime of terrorism, or an act of domestic terrorism, or the entity has been convicted of providing material support to terrorists. (Maintains the Act's current liability provisions for willful or criminal misconduct, gross negligence, reckless misconduct, or a conscious, flagrant indifference to rights or safety.) Declares that nothing in this Act shall be construed to affect the liability for negligence of a volunteer of a nonprofit volunteer pilot organization that flies for public benefit with respect to amounts within the limits of required liability insurance coverage.
Directs the Attorney General to study and report to Congress on the availability of insurance to nonprofit volunteer pilot organizations that fly for public benefit.