Shipbuilding Promotion Act of 1992

[AI summary unavailable — showing source text] Shipbuilding Promotion Act of 1992 - Requires the Secretary of Defense to direct that all sealift ships built under the fast sealift program be constructed and designed to commercial specifications. Directs the Secretary to establish an interagency working group to develop and implement a comprehensive plan to ensure the effective competition of U.S. shipyards in the international shipbuilding market. Directs the Secretary to submit the plan to the Congress at the time of the FY 1994 defense budget request. Provides that, if such plan is not submitted at such time, no funds appropriated to the Department of Defense for FY 1993 may be used for contracting for the construction, repair, or purchase of any product or service with any company located or with headquarters in any country that continues to provide a subsidy to a foreign shipyard for the construction or repair of vessels or that engages in ship dumping practices. Defines a subsidy as direct or indirect official operation support, or direct or indirect assistance, to the commercial shipbuilding and repair industry of a country.…