FAA Civil Penalty Administrative Assessment Act of 1992

FAA Civil Penalty Administrative Assessment Act of 1992 - Amends the Federal Aviation Act of 1958 to authorize the Administrator of the Federal Aviation Administration (FAA) to assess a civil penalty for violations pertaining to: (1) prohibition of civil aircraft flights over security zones; (2) the organization of the FAA; (3) aviation safety regulations; (4) regulations requiring airline passengers to be notified of the lack of security measures at certain airports; and (5) regulations requiring public notice of existing or proposed construction or repairs which will promote safety in air commerce.

Requires the Administrator of the FAA, before assessing a civil penalty against a pilot, flight engineer, mechanic, or repairman, to: (1) advise the individual of the charges or reasons relied upon for the Administrator's proposed action; and (2) provide him or her with an opportunity to answer such charges and be heard as to why the civil penalty should not be assessed.

Authorizes such individuals to appeal such a penalty to the National Transportation Safety Board (NTSB). Declares that the NTSB shall not be bound by any findings of fact of the Administrator of the FAA but shall, however, be bound by all validly adopted interpretations of laws and regulations administered by the FAA (and of written agency policy guidance available to the public relating to sanctions to be imposed from assessment of a civil penalty to suspension or revocation of a certificate) unless it finds that such interpretation is arbitrary, capricious, or otherwise not in accordance with law. Authorizes the NTSB to modify such sanctions.

Provides for judicial review of NTSB orders.

Authorizes the Administrator of the FAA to assess a civil penalty against persons other than a pilot, flight engineer, mechanic, or repairman, only after notice and an opportunity for a hearing.

Specifies the sole issues the FAA Administrator shall consider in any appeal from a decision of an administrative law judge, including: (1) preponderance of evidence supporting findings of fact; (2) accord with law, precedent, and public policy of conclusions of law; and (3) presence or absence of prejudicial errors committed by the administrative law judge that support the appeal.

Sets a two-year statute of limitations for the initiation of civil penalty actions, except where good cause exists.

Limits to $50,000 the maximum amount of a civil penalty which the FAA or the NTSB may assess.

Makes the civil penalty assessment program permanent (by repealing restrictions that make it a demonstration program only).