Fair Speed Limit Act of 1993

Fair Speed Limit Act of 1993 - provides that no speed limit shall be set: (1) to exceed, to the nearest five mile per hour (mph) increment, the speed at or below which 85 percent of free flowing vehicles are traveling (85 percentile speed); and (2) below the speed at or below which 67 percent of the free flowing vehicles are traveling (67 percentile speed).

Repeals provisions of the Department of Transportation and Related Agencies Appropriations Act, 1988 and the Intermodal Surface Transportation Efficiency Act of 1991 with respect to the establishment of a national maximum speed limit.

Requires each State to measure a representative sample of free flowing vehicle speeds on distinct classes of streets. Specifies that statutory speed limits for each class of street shall represent the 85 percentile speed for that entire class, and that individual streets or segments thereof that exhibit traffic speeds significantly different from those specified by statute shall be posted with separate speed limits that reflect 85 percentile speeds.

Prohibits any street from being posted or having enforced a speed limit lower than the 67 percentile speed, with exceptions for construction and school zones.