Professional Boxing Safety Act of 1996 - Prohibits any person from arranging, promoting, organizing, producing, or fighting in a professional boxing match held in a State that has no boxing commission unless the match is: (1) supervised by a commission from another State; and (2) subject to the most recent Association of Boxing Commissions (ABC) guidelines, as well as any additional relevant professional regulations and requirements of such other State. Requires, for any professional boxing match: (1) a physical examination of each boxer to determine fitness to compete; (2) the presence of an ambulance or medical personnel and a physician on site; and (3) health insurance coverage for each boxer.