Central Valley Project Transfer Act of 1992

Central Valley Project Transfer Act of 1992 - Authorizes and directs the Secretary of the Interior to conduct negotiations with the Governor of California for the transfer of ownership, control, and operation of the Central Valley Project to such State. Requires an agreement to be reached within five months after enactment of this Act and submitted to the Congress for approval. Requires the Congress to approve, modify, or disapprove such agreement within two months after submittal or the agreement shall be deemed to be approved.

Defines the Central Valley Project as all Federal reclamation projects located within, or diverting water from or to, the watershed of the Sacramento and San Joaquin rivers and their tributaries as authorized under Federal law.