Democracy Corps Act of 1992

Democracy Corps Act of 1992 - Establishes a Democracy Corps Board to carry out this Act. Requires the Board to establish a Democracy Corps composed of U.S. citizens who have expertise relevant to the development of democratic institutions and free market economies in eligible former Soviet republics and the Baltic States.

Directs the Corps to: (1) recruit and train teams of Corps members and assign such teams to eligible republics to make onsite assessments of the needs of individuals and organizations for training and other assistance relevant to the development of democratic institutions and free market economies; (2) prepare reports on critical needs at the regional and local levels; (3) identify local leaders who might benefit from training programs in the United States and other democratic countries; and (4) review the effectiveness of the distribution of U.S. humanitarian assistance.

Requires the teams to establish Democracy Houses in localities to assist local efforts to create democratic institutions and a market economy and to provide logistical support and information to U.S. Government agencies and nongovernmental organizations assisting in the development of democracy. Directs the Corps to disseminate the needs assessments to relevant Government agencies, the National Endowment for Democracy, and other nongovernmental organizations and foreign governments engaged in assisting the transition to democratic institutions and free market economies.

Requires the Corps to seek to obtain support in the United States for those working to consolidate such transition. Permits funds made available under this Act to be used to compensate Corps members.

Authorizes appropriations.