This two-part report deals with the Lead Exposure Reduction Act of 1992 (H.R. 5730), an amendment to the Toxic Substances Control Act and the Federal Food, Drug, and Cosmetic Act. The amendment is intended to lead to the reduction of levels of lead in the environment and to lower the degree of childhood exposure to lead. The bill provides for a program of inspection for lead-based paint at covered schools and for lead hazards at covered day care facilities; inspections in cases of lead in drinking water at covered schools and facilities; a program for training and licensing of lead-based paint abatement contractors and their workers; and repair or recall of drinking water coolers. Part 1 of the report includes: (1) the amendment itself; (2) background information and a rationale; (3) a summary of hearings on the amendment; (4) committee findings and cost estimates; (5) the cost estimate of the Congressional Budget Office; (6) section-by-section analysis; (7) dissenting views; and (8) changes in existing law made by the bill. Part 2 is an additional report, submitted by the Committee on Education and Labor, with suggestions for amendments to the bill. (MM)