Highway Rail Grade Crossing Safety Formula Enhancement Act of 1995

Highway Rail Grade Crossing Safety Formula Enhancement Act of 1995 - Amends the Intermodal Surface Transportation Efficiency Act of 1991 to direct the Secretary of Transportation, for each of specified years, to set aside five percent of the funds authorized for the surface transportation program to be apportioned among the States for railway-highway crossings based on a formula which takes into account the number of accidents and fatalities at public railway-highway crossings over a three-year period, the number of such crossings, and the number of such crossings with passive warning devices, in each State relative to all States. Provides for exclusive availability of specified apportioned funds for railway-highway crossings and for hazard elimination programs in FY 1997.