‘‘(d) STATEMENTS.—The statements referred to in
subsections (b)(4) and (c)(3) of this section shall each pro-
vide, to the extent feasible, comparisons with estimates of
greater, lesser, and substantially equivalent risks that are
familiar to and routinely encountered by the general pub-
lic, as well as other risks, and, where appropriate and
meaningful, comparisons of those risks with other similar
risks regulated by the Department resulting from com-
parable activities. In making such comparisons, the Sec-
retary 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
standard or regulatory requirement, the Secretary
shall submit any risk assessment documents and
cost-benefit analyses (prepared or received by the
Secretary) for review by the Technical Pipeline Safe-
ty Standards Committee, the Hazardous Liquid
Pipeline Safety Standards Committee, or both, as
appropriate, and make them available to the public.
The Technical Pipeline Standards Committee and
the Hazardous 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 re-
quirement and an evaluation of the technical sci-
entific merit of the data and scientific method used
for a risk assessment document or cost-benefit anal-
ysis. The Committee or Committees shall submit
such reports to the Secretary within 90 days after
the date of receipt of the documents and analyses
from the Secretary.
‘‘(2) RESPONSE
OF
SECRETARY.—The Sec-
retary shall review the report and recommendations
of the Technical Pipeline Safety Standards Commit-
tee, the 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
Committees a written response to all peer re-
view 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 promul-
gated.’’.
(b) CONFORMING AMENDMENT.—The analysis for
chapter 601 is amended by adding at the end the follow-
ing:
‘‘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:
‘‘(B) does not include the gathering of gas,
other than gathering through regulated gather-
ing lines, in those rural locations that are out-
side the limits of any incorporated or unincor-
porated city, town, or village, or any other des-
ignated residential or commercial area (such as
a subdivision, business, shopping center, or
community development) or any similar popu-
lated area which the Secretary of Transpor-
tation may define as a nonrural area; but
‘‘(C) includes the movement of gas through
regulated gathering lines.’’; and
(2) by adding at the end the following:
‘‘(23) ‘best estimate’ means a scientifically ap-
propriate estimate which is based, to the extent fea-
sible, on one of the following:
‘‘(A) Central estimates of risk using the
most plausible assumptions.
‘‘(B) An approach which combines multiple
estimates based on different scenarios and
weighs the probability of each scenario.