International Narcotics Control Act of 1992

International Narcotics Control Act of 1992 - Amends the Foreign Assistance Act of 1961 to authorize appropriations for international narcotics control for FY 1993 and 1994.

Exempts maritime law enforcement operations in archipelagic waters from a prohibition on U.S. participation in foreign police actions.

Makes a prohibition on the use of narcotics control funds for the procurement of weapons or ammunition inapplicable (subject to congressional notification requirements) to: (1) weapons or ammunition for the defensive arming of aircraft used for narcotics control purposes; or (2) firearms and related ammunition provided to Department of State employees for narcotics control activities.

Requires the President (currently, the Secretary of State) to maintain records on aircraft use under this title. Authorizes foreign military financing assistance under the Arms Export Control Act to be made available to finance the leasing of aircraft.

Permits the use of narcotics control assistance to acquire land or real property for foreign military or law enforcement forces through leases of up to two years. (Current law prohibits the use of such assistance for such acquisitions by any means.) Prohibits the use of such funds (over a specified amount) for construction of facilities for use by such forces unless the President notifies the appropriate congressional committees.

Revises congressional reporting and certification requirements with respect to international narcotics control.

Amends the International Narcotics Control Act of 1989 to make certain dollar limitations on law enforcement assistance for Bolivia, Colombia, and Peru inapplicable on this Act's enactment date.

Repeals obsolete provisions of specified Acts.

Makes prohibitions on the provision of assistance to foreign law enforcement agencies inapplicable, during FY 1993 and 1994, to: (1) transfers of defense articles and services for counternarcotics purposes; and (2) foreign military financing and international military education and training for narcotics-related purposes.

Makes provisions of law that restrict assistance to countries inapplicable with respect to narcotics-related assistance, provided that the President notifies the appropriate congressional committees.

Authorizes the transfer of excess defense articles to major drug-transit countries. Prohibits the transfer of excess defense articles for conservation and wildlife management purposes or for modernization of military capability to any major illicit drug producing country or drug-transit country in Latin America or the Caribbean.

Excludes construction equipment from the definition of "excess defense articles" for purposes of restricting the transfer of such equipment to foreign countries.

Authorizes military education and training for civilian personnel from other than ministries of defense if such education and training would contribute to cooperation between military and law enforcement personnel with respect to counternarcotics law enforcement.

Amends the Export-Import Bank Act of 1945 to prohibit the Bank from guaranteeing, insuring, or participating in an extension of credit in connection with sales of defense articles or services to any country (currently, countries designated under a section of the Internal Revenue Code as economically less developed countries). Exempts from such prohibition articles or services sold before September 30, 1997. Adds to the list of criteria required for approval of such financing that the President determines that the purchasing country has complied with restrictions concerning end use of such articles or services and has not used them to engage in human rights violations.