Federal Trade Commission Authorization Act of 1982

(Measure passed House, amended)

Federal Trade Commission Authorization Act of 1982 - Amends the Federal Trade Commission Act to revise the definition of unfair act or practice to include any act or practice that causes or is likely to cause substantial injury to consumers. Defines "substantial injury" as an injury that is not reasonably avoidable by consumers and is not outweighed by countervailing benefits to consumers or competition resulting from such act or practice.

Permits the court to review certain cease and desist orders made by the Federal Trade Commission (FTC).

Authorizes the FTC to issue notice of proposed rulemaking with respect to any unfair or deceptive act or practice or false advertisement, only if it has issued two or more cease and desist orders or it believes a pattern of unfair and deceptive acts or practices or false advertisement exists.

Extends the civil investigative demand procedures to the FTC's antitrust authority.

Prohibits the FTC from studying, investigating and prosecuting agricultural cooperatives.

Provides for congressional review and veto of final rules promulgated by the FTC. Makes any such rule effective unless a concurrent resolution of disapproval is introduced within 35 days after the rules's submission to Congress, and such resolution is adopted by both Houses within 90 days of the rule's submission.

Provides for a moratorium on FTC regulation of State-regulated professionals until Congress enacts legislation whcih expressly grants such authority to the FTC.

Extends the authorization of appropriations for the FTC from FY 1983 through FY 1985.

Prohibits the FTC from intervening in the proceedings of any Federal or State agency without first notifying specified congressional committees at least 60 days in advance or as soon as practicable.