Comprehensive Wetlands Conservation and Management Act of 1995

Comprehensive Wetlands Conservation and Management Act of 1995 - Amends the Federal Water Pollution Control Act to prohibit, unless such activity is undertaken pursuant to a permit issued by the Secretary of the Army: (1) the discharge of dredged or fill material into U.S. waters; or (2) the draining, channelization, excavation, or flooding of wetlands, construction of structures in and diversion of water from wetlands, or the conduct of any activity which adversely affects wetlands.

Requires the Secretary, upon receiving permit applications, to: (1) classify as Type A wetlands those that are of critical significance to the long-term conservation of an ecosystem; (2) classify as Type B wetlands those that provide habitat for a significant population of wildlife or provide other significant wetlands functions; and (3) classify as Type C wetlands those that serve marginal functions but exist in such abundance that regulation of activities is not necessary to conserve wetlands values and functions, or are lands that do not serve significant wetlands functions.

Permits owners of interests in Type A wetlands to seek compensation for the fair market value of such lands. Provides that title for such lands shall pass to the United States upon acceptance of an offer for compensation.

Requires the Secretary to deny a permit authorizing activities in Type A wetlands unless: (1) such activities can be undertaken with minimal alteration or disturbance; (2) there are public interest concerns that require use of the lands for purposes other than conservation; or (3) the proposed use of the land will result in overall environmental benefits. Authorizes the Secretary to issue a permit for activities in Type B wetlands subject to conditions that ensure that the wetland ecosystem does not suffer loss or degradation. Imposes requirements for mitigation when such activities result in permanent wetland loss or degradation.

Directs the Secretary to establish a mitigation banking program in each State to ensure compensation for loss and degradation of wetlands.

Requires the primary objective of such programs to be to provide for the restoration, enhancement, or creation of ecologically significant wetlands on an ecosystem basis.

Exempts specified activities from this Act's requirements.

Requires the Director of the U.S. Fish and Wildlife Service to undertake a project to identify and classify U.S. wetlands.

Authorizes civil actions and prescribes penalties for permit violations.

Authorizes States to administer permit programs for activities covered by this Act, subject to the Secretary's approval.