National Family Enterprise Preservation Act of 1995

National Family Enterprise Preservation Act of 1995 - Amends the Internal Revenue Code to increase the unified estate and gift tax credit by creating: (1) an additional estate tax credit measured by the value of inherited family enterprise property (up to $121,800); (2) an additional gift tax credit equal to the value of gifts of family enterprise property (up to $121,800) minus the sum value of such tax credits for preceding calendar periods; and (3) an additional gift tax exclusion equal to the value of gifts of family enterprise property (up to $10,000).

Includes in a decedent's estate the value of family enterprise property, reduced by 50 percent or by $1 million, whichever is less.

Defines family enterprise property as an interest in real or personal property used for farming, business, or any other trade that is at least 80 percent owned by either: (1) five or fewer individuals who have not formed a limited partnership; or (2) members of the same family.

Imposes an additional estate tax on a taxpayer who: (1) inherits family enterprise property; (2) qualifies for an estate tax credit; and (3) disposes of that property within ten years of the decedent's death, and before the death of another individual with an interest in the property. Defines the additional estate tax as past estate tax liability attributable to the taxpayer for interest in the family enterprise property (for which he received an estate tax credit) reduced by five percent for every year after the decedent's death that the taxpayer participated in the management of the family enterprise property.

Increases from $750,000 to $1 million the amount of aggregate reduction permitted in the fair market value of certain farm, etc. real property taken into account for determining the gross estate.