Regulatory Improvement and Accountability Act of 1992

[AI summary unavailable — showing source text] Regulatory Improvement and Accountability Act of 1992 - Amends the Paperwork Reduction Act of 1980 to add as purposes of such Act: (1) reducing regulatory burdens to promote national economic growth, productivity, competitiveness, and general welfare; (2) increasing agency regulatory accountability; (3) providing for presidential oversight of the regulatory process; (4) minimizing duplication and conflict of regulations; and (5) ensuring well-reasoned regulations. Revises the definition of "burden" to include the time, effort, or financial resources expended to comply with a regulation. Defines "major rule" as any regulation that is likely to result in: (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of the United States-based enterprises to compete with foreign-based enterprises in domestic or export markets. Defines "regulation" and "rule" as an agency statement of general applicability and future effect d…