National Children's Island Act of 1995

National Children's Island Act of 1995 - Requires the Secretary of the Interior: (1) in order to facilitate construction, development, and operation of National Children's Island, to transfer to the District of Columbia Heritage Island and all of that portion of the Kingman Island located south of Benning Road and within the District and the Anacostia River; and (2) to grant to the District permanent easements to such property for use by the District for roads and bridges (which satisfy the District Building Code and applicable safety requirements), utility transmission corridors, and an informational kiosk, a ticketing booth, and security for the Islands. Allows the District to assign the easements to any operator of the Islands.

Requires unbudgeted actual costs incurred by the Secretary for the transfer to be borne by the District. Authorizes the District to seek reimbursement from any third party for such costs.

Requires the development of National Children's Island (consisting of a recreation park and a children's playground) to proceed as authorized.

Subjects the transfer and easements to the condition that the Islands be used only for the purposes of the National Children's Island and provides for reversion to the United States if improvements and operations are not commenced within specified periods, if the recreation area is abandoned or not used for a specified period, or if the Islands are converted to another use.

Requires the District to direct any nongovernmental entity authorized to construct, develop, and operate National Children's Island to establish an escrow fund, post a surety bond, provide a letter of credit, or otherwise provide such security for the benefit of the Service to serve as the sole source of funding for restoration of the park to a condition suitable for Service purposes upon reversion of the property. Requires any amount in the escrow fund to be distributed to such entity if, after two years from the date of reversion of the property, the Service has not commenced, or is not diligently proceeding with, such restoration.

(Sec. 4) Provides that operation of the park may only commence simultaneously with or subsequent to improvement and opening of a children's playground at the National Children's Island that is available to the public free of charge. Prohibits public parking on the Islands except for handicapped parking, emergency and governmental vehicles, and parking related to constructing and servicing the National Children's Island.

Subjects the final design plans for the park and playground to the review and approval of the National Capital Planning Commission and the District.

Provides that: (1) the transfer of jurisdiction concerning the Islands from the National Park Service to the District as approved by the Council of the District shall become null and void and of no further force and effect; (2) the Islands shall no longer be considered to be part of Anacostia Park or to be within the District's park system; and (3) the District shall have exclusive charge and control over the Islands and easements.

Authorizes the District to grant to a nongovernmental individual or entity a right to use the lands currently being leased by the United States to the District pursuant to the District of Columbia Stadium Act of 1957 for parking facilities (and necessary informational kiosk, ticketing booth, and security) as the Mayor of the District may determine necessary or appropriate in connection with or in support of National Children's Island.