Infrastructure Stimulus Act of 1992

Infrastructure Stimulus Act of 1992 - Amends the Intermodal Surface Transportation Efficiency Act of 1991 to: (1) raise the obligation ceiling for Federal aid highway and highway safety construction programs for FY 1992 and 1993; and (2) provide for a temporary waiver (for qualifying projects during the period from October 1, 1991, through September 30, 1993) of State matching fund requirements under Federal aid highway provisions.

Amends the Federal Transit Act to provide for such waiver (during such period) for qualifying construction projects to be assisted under such Act.

Amends the Federal Water Pollution Control Act (FWPCA) to increase authorized appropriations for FY 1992. Earmarks a specified amount for use by States to provide assistance to small communities pursuant to the FWPCA and this Act.

Directs the Administrator of the Environmental Protection Agency to: (1) temporarily waive requirements under the FWPCA relating to deposits of State moneys in the water pollution control revolving fund of the State and pay to each State for deposit into such fund an amount equal to that which the State would otherwise have deposited into the fund; and (2) temporarily waive requirements with respect to State capitalization grants for construction of treatment works owned or operated by a small community (defined as a municipality with a population of less than 10,000).

Specifies that the period of a loan made to a small community shall not exceed 30 years.