Poverty Data Correction Act of 1995

Poverty Data Correction Act of 1995 - Requires any data relating to the incidence of poverty produced or published by or for the Secretary of Commerce for subnational areas to be corrected for differences in the cost of living and data produced for State and sub-State areas to be corrected for differences in the cost of living for at least all States of the United States. Requires such corrected data to be published in 1995 and biennially thereafter.

Requires the Secretary to: (1) develop or cause to be developed a State cost-of-living index which ranks and assigns an index value to each State using data on wage, housing, and other costs relevant to the cost of living; and (2) multiply the Federal Government's statistical poverty thresholds by the index value for each State's cost of living to produce State poverty thresholds for each State. Requires the State cost-of-living index and resulting State poverty thresholds to be published before September 30, 1996 for calendar year 1995 and to be updated annually thereafter.