Pipeline Safety Act of 1995

[AI summary unavailable — showing source text] Pipeline Safety Act of 1995 - Amends Federal natural gas and hazardous liquid pipeline safety transportation law to prohibit the Secretary of Transportation from promulgating any significant gas or hazardous liquid transportation safety standard or regulatory requirement unless he or she: (1) certifies that an analysis of risk reduction benefits and costs has been conducted based on objective and unbiased scientific and economic evaluations; (2) certifies that the incremental risk reduction or other benefits of any option chosen will be likely to justify, and be reasonably related to, the incremental costs incurred by Federal, State, local, and tribal governments and other public and private citizens; and (3) explains why other options identified were found either to be less cost-effective at achieving a substantially equivalent reduction in risk, or to provide less flexibility to State, local, or tribal governments or regulated entities in achieving the otherwise applicable objectives of such standard or requirement. (Sec. 3) Requires the Secretary, with respect to any significant standard or regulatory requirement, to submit any risk assessment documents and cost-benefit analyses…