Freedom from Government Competition Act of 1992

Freedom from Government Competition Act of 1992 - Requires Federal agencies to obtain all goods and services necessary for or beneficial to the accomplishment of their authorized functions by procurement from private sources unless: (1) the goods or services are required by law to be produced or performed, respectively, by the agency; (2) or the head of the agency determines and certifies to the Congress that Government production, manufacture, or provision of a good or service is necessary for national defense, that a good or service is so inherently governmental in nature that it is in the public interest to require production or performance by a Government employee, or that there is no private source capable of providing the good or service.

Requires the Director of the Office of Management and Budget to study and report to the Congress on: (1) agency activities which are inconsistent with such requirements; and (2) a schedule for transferring such activities to the private sector.