Utah Federal Lands Exchange Act of 1992

Utah Federal Lands Exchange Act of 1992 - Declares certain lands in Utah to be part of the Navajo Indian Reservation upon the completion of the exchange process, conveyance, and acceptance of title by the State of Utah pursuant to this Act.

Requires the Secretary of the Interior to enter into negotiations with the State of Utah to exchange Federal lands or interests under Bureau of Land Management jurisdiction for State lands conveyed to the United States for the benefit of the Navajo Nation and the Goshute Indian Tribe. Directs the Secretary to send a list of lands and interests to be offered for exchange to the State of Utah.

Conveys specified lands to San Juan County, Utah. Prohibits such land from being offset against State lands exchanged pursuant to this Act.

Expresses the sense of the Congress that exchanges under this Act shall be completed within two years after December 31, 1992.

Transfers lands under this Act without cost to the Navajo Nation, the State of Utah, and the Goshute Tribe.

Declares certain lands in Utah to be part of the Goshute Indian Reservation. Authorizes and directs the Secretary to acquire such lands through exchange of Federal lands.

Authorizes the Secretary to acquire all school trust lands within established units of the National Park System in Utah. Provides that trust lands located within the boundaries of the Glen Canyon Recreation Area shall be administered as a part of such recreation area.

Directs the Secretary of the Treasury, upon conveyance of the trust lands by the State of Utah and acceptance of title by the Secretary of the Interior, to pay to certain funds an additional 25 percent of royalties, sales, bonuses, interest charges, penalties, and rentals collected pursuant to the Mineral Leasing Act within Utah for a period of 25 years.

Authorizes appropriations.