Chemical Demilitarization Program Revisions Act of 1992

Chemical Demilitarization Program Revisions Act of 1992 - Amends the Department of Defense Authorization Act, 1986 to direct the Secretary of Defense to carry out the destruction of the stockpile of lethal chemical agents and munitions in accordance with a schedule prescribed by the Secretary, which shall be consistent with U.S. diplomatic and treaty obligations. (Current law sets a stockpile elimination deadline of July 31, 1999.)

Establishes the Chemical Demilitarization Advisory Commission to determine, and report to the President and the Congress on, alternative technologies appropriate for use in the disposal of such agents and munitions.

Requires the Secretary to submit to the Congress a revised stockpile elimination plan, taking into account the determinations of the Commission and other specified considerations, including: (1) a revised stockpile disposal schedule; (2) revised life-cycle cost estimates and schedules; and (3) a detailed description of the facilities, technology, and operating procedures to be used in carrying out such plan.

Authorizes the Secretary to: (1) develop and implement a program with any of the affected independent states of the former Soviet Union or any country that is a signatory of a treaty banning the possession of chemical weapons for the exchange of technical knowledge on the disposal of chemical weapons, to explore and develop safer, more cost-effective methods of such disposal; and (2) make grants to individuals in the private sector with expertise in the disposal of chemical agents to cover the costs incurred in exchange activities under such program.

Authorizes appropriations.