‘‘(c) RISK ASSESSMENT DOCUMENTS.—A risk assess-
ment document prepared by the Secretary for a significant
standard or regulatory requirement shall, at a minimum
and to the extent feasible—
‘‘(1) provide the best estimate for the impacts ad-
dressed and a statement of the reasonable range of sci-
entific uncertainties;
‘‘(2) include a statement of any significant sub-
stitution risks to public safety or the environment;
and
‘‘(3) contain a statement that places in context
the nature and magnitude of risks to public safety or
the environment.
‘‘(d) STATEMENTS.—The statements referred to in sub-
sections (b)(4) and (c)(3) of this section shall each provide,
to the extent feasible, comparisons with estimates of greater,
lesser, and substantially equivalent risks that are familiar
to and routinely encountered by the general public, as well
as other risks, and, where appropriate and meaningful,
comparisons of those risks with other similar risks regulated
by the Department resulting from comparable activities. In
making such comparisons, the Secretary should consider
relevant distinctions among risks, such as the voluntary or
involuntary nature of risks, and the preventability or
nonpreventability of risks.
‘‘(e) REVIEW BY STANDARDS COMMITTEE.—
‘‘(1) PEER REVIEW.—For any significant stand-
ard or regulatory requirement, the Secretary shall
submit any risk assessment documents and cost-bene-
fit analyses (prepared or received by the Secretary)
for review by the Technical Pipeline Safety Standards
Committee, the Hazardous Liquid Pipeline Safety
Standards Committee, or both, as appropriate, and
make them available to the public. The Technical
Pipeline Safety Standards Committee and the Haz-
ardous Liquid Pipeline Safety Standards Committee
shall function as peer review panels and shall prepare
reports, including any recommended options for any
significant standard or regulatory requirement and
an evaluation of the technical scientific merit of the
data and scientific method used for a risk assessment
document or cost-benefit analysis. The Committee or
Committees shall submit such reports to the Secretary
within 90 days after the date of receipt of the docu-
ments and analyses from the Secretary.
‘‘(2) RESPONSE OF SECRETARY.—The Secretary
shall review the report and recommendations of the
Technical Pipeline Safety Standards Committee, the
Technical Hazardous Liquids Pipeline Safety Stand-
ards Committee, or both, as the case may be. Within
90 days after receipt of such report, the Secretary—
‘‘(A) shall submit to the Committee or Com-
mittees a written response to all peer review
comments and recommended options; and
‘‘(B) may revise the risk assessment docu-
ment or cost-benefit analysis prior to determin-
ing whether the proposed significant standard or
regulatory requirement should be promulgated.
‘‘(f) EMERGENCIES.—In the case of an emergency, the
Secretary may suspend the application of this section for
the duration of the emergency.
‘‘(g) REPORT.—Not later than March 31, 1999, the
Secretary shall transmit to Congress a report on the appli-
cation of the principles of the analyses of risk reduction
benefits and costs and risk assessment to this chapter and
their effect on pipeline safety.’’.
(b) CONFORMING
AMENDMENT.—The analysis for
chapter 601 is amended by adding at the end the following:
‘‘60126. Analysis of risk reduction benefits and costs.
‘‘60127. Risk management.’’.
SEC. 4. DEFINITIONS.
(a) IN GENERAL.—Section 60101(a) is amended—
(1) by striking subparagraph (B) of paragraph
(21) and inserting the following: