A bill to establish coordinated interagency research and demonstration projects for improving knowledge and use of risk assessment by those Federal agencies concerned with regulatory decisions related to the protection of human life, health, and the environment, and to provide for the establishment of a Central Board of Scientific Risk Analysis as a means of improving the scientific review and evaluation of risk analyses made by Federal agencies, with particular emphasis upon risk analyses involving issues of chronic health hazards.

Title I: Risk Assessment Research and Development - Risk Assessment Research and Demonstration Act of 1983 - Directs the President to establish and direct coordinated projects which shall be designed to: (1) improve the use of risk assessment within Federal agencies; (2) develop a systematic approach to the use of risk assessment by Federal agencies; (3) identify research needed to improve risk assessment; and (4) bring public awareness to the nature of regulated risks. Directs the President to designate an agency or agencies to coordinate the projects. Directs the coordinating agencies to submit a report to Congress which includes: (1) a review of the risk assessments presently being carried out in Federal agencies; (2) recommendations for sharing research results among Federal agencies; (3) a proposal for the risk assessment demonstration projects required by this Act to be undertaken by specified Federal agencies; and (4) identification of the areas where the use of the results of a risk assessment is required, encouraged, limited, or prohibited by current law, regulation, or practice.

Requires specified Federal agencies to recommend to the coordinating agencies research projects relating to risk assessment.

Directs the coordinating agencies to report to Congress with recommendations concerning risk assessment.

Title II: Central Board of Scientific Risk Analysis - Central Board of Scientific Risk Analysis Act of 1983 - Authorizes an agency designated by the President to enter into a cost-plus-fixed-fee contract with the National Academy of Sciences to establish within the National Research Council a Board of Scientific Risk Analysis. Directs the Academy, through the Board, to: (1) issue and revise scientific principles and practices for risk analysis; (2) review analyses made by Federal agencies; and (3) make recommendations to agencies on research needed in risk analysis.

Requires an agency, before taking regulatory action based on a risk assessment concerning a hazardous substance and involving scientific issues that the agency determines are of national importance, to submit the risk analysis part of such assessment to the Director of the Office of Science and Technology Policy for possible referral to the Board for review. Requires the Director to make such referral and publish notice of such review if the Director and the Academy concur with the agency's determination. Requires the Academy: (1) through the Board, to review such analysis expeditiously; (2) to submit a review timetable to the Director for publication, along with an invitation for public comment, in the Federal Register; and (3) to submit to the agency and provide to the public a report on such analysis.

Provides that nothing contained in the Academy's reports shall be binding on any agency, but requires any agency that fails to act in accordance with the Academy's findings to publish a justification for such failure.

Authorizes appropriations.