Forest Resources Amendments Act of 1992

Forest Resources Amendments Act of 1992 - Amends the Forest Resources Conservation and Shortage Relief Act of 1990 with respect to the restriction on exports of unprocessed timber from State and other public lands. Revises one of the factors the Secretary of Commerce must consider when deciding whether to increase the volume of unprocessed timber prohibited from export. Requires the Secretary to consider whether the volume of timber from public lands and Federal lands, in the aggregate, (currently, just public lands) that is under contract has increased or decreased by an amount greater than 20 percent within the previous 12 months.

Makes effective throughout certain periods any State regulations in effect on August 16, 1991, that prohibit substitution of unprocessed timber originating from public lands for unprocessed timber originating from private lands. Provides that, at the end of such periods, the regulations shall remain in effect until the State legislature enacts any requirements it deems appropriate to supersede them.

Authorizes the President to suspend the amendments made by this Act if a panel of experts has reported to the Contracting Parties to the General Agreement on Tariffs and Trade, or a ruling issued under the formal dispute settlement proceeding provided under any other trade agreement finds, that the amendments made by this Act are in violation of, or inconsistent with, U.S. obligation under such agreement.