Amends the National Environmental Policy Act to include extraterritorial actions, with specified exceptions, within the category of Federal actions which affect the quality of the human environment and require the submission of environmental impact statements. Modifies provisions regarding the content of such statements. Authorizes the President to exempt certain major Federal extraterritorial actions from environmental impact assessment requirements.

Requires the President to report annually to the Congress on a strategy for achieving certain environmental policy goals under such Act.

Directs the Council on Environmental Quality to promulgate regulations implementing such Act for all Federal agencies, including independent regulatory commissions. Eliminates the position of Council member from the Council on Environmental Quality and vests all authority in the Chairman.

Requires the Council to establish guidelines for Federal agencies to review and report to the Council on a statistically significant sample of environmental impact statements prepared by such agencies in which measures were specified for the mitigation of adverse environmental effects, including impacts on fish and wildlife populations and habitat, that were predicted to result from the action. Requires each review to assess the implementation of mitigation measures and the accuracy and effectiveness of predicted adverse impacts and their mitigation. Directs the Council to include a summary of the results of such reviews in its annual report to the Congress.

Amends the Environmental Quality Improvement Act of 1970 to authorize appropriations for FY 1992 and 1993 for the operations of the Office of Environmental Quality and the Council on Environmental Quality.