Technology Transfer Committee Act of 1992

Technology Transfer Committee Act of 1992 - Amends the National Security Act of 1947 to establish a committee to: (1) support the commercial adaption of research and development in the civilian technology area; (2) place a heavy emphasis on critical technologies that will ensure the long-term superiority of U.S. technology; (3) be specifically designed to address the constructive advancement of civilian technology; (4) identify technological needs, problems, and opportunities within and across industrial sectors that, if addressed, could make a significant contribution to the U.S. economy; (5) support projects that range from idea exploration to prototype development and address long-term, high risk areas of technology research, development, and application that are not otherwise being adequately developed by the private sector, but are likely to yield important benefits to the Nation; (6) identify emerging national technology problems and support research pertinent to those problems; (7) support development of solutions to applied research programs; (8) determine the relationships of technological developments and international technology transfers to the output, employment, productivity, and world trade performance of the United States and foreign industrial sectors; (9) investigate the potential of advancing U.S. technological innovation and exploiting innovations of foreign origin; (10) secure the translation of technology into timely, cost competitive, high quality manufactured products and provide an efficient technological infrastructure; (11) support applied research and development that falls outside the purview of other Federal agencies that should be supported in the national interest; (12) generally promote and assist in the development of advanced technologies and the generic application of such technologies of civilian products, processes, and services; (13) assess whether the capital, technical, and other resources available to domestic industrial sectors which are likely to generate new technologies are adequate to meet private and social demands for goods and services and to promote productivity and economic growth; and (14) promote research that contributes to the scientific basis of health, safety, and environmental regulations for the purposes of improving regulatory actions and minimizing duplicative research.

Requires the committee to promote: (1) technology transfer from the Federal Government to private enterprise; and (2) government-industry cooperation to halt the penetration of U.S. markets by foreign competitors.

Provides for participation by foreign countries in projects supported by the committee.

Requires the committee to be headed by a director who shall make grants and enter into contracts and cooperative agreements with research and development entities or other arrangements with entities that are deemed most useful by the committee to accomplish the purposes of this Act.

Requires the committee to provide the funding for research and development concerning the adaption of technology.

Requires the committee to coordinate efforts with other Federal agencies to make certain there are no disputes over grants, loans, and contracts.

Requires the committee to report annually to the President, both Houses of the Congress, and the Council on Industrial Competitiveness on its past year actions and any recommendations for appropriate legislative actions.