Risk Assessment and Cost-Benefit Analysis Act of 1995

[AI summary unavailable — showing source text] Risk Assessment and Cost-Benefit Analysis Act of 1995 - Directs the head of each covered Federal agency, in exercising authority under any Federal law to protect human health and the environment, to: (1) conduct risk assessment and cost-benefit analysis for all major rules protecting human health and the environment; (2) demonstrate that for all major rules the benefits to human health or the environment justify the costs; (3) publish with each final rule an identification of the most flexible and cost effective regulatory option and, if those options are not employed, an explanation justifying why; (4) prioritize threats to human health, safety, and the environment according to the seriousness of the risk they pose and the opportunities available to achieve the greatest overall net reduction in those risks with the public and private resources available; (5) prioritize the use of resources available to the agency under those laws to reduce those risks in accordance with such threat priorities (including applying the priorities to the budget, strategic planning, and research activities of the agency); and (6) apply peer review to each risk assessment and each cost-benefit analysis …