ISA uses a speed sign-recognition video camera and/or GPS-linked speed limit data to advise drivers of the current speed limit and automatically limit the speed of the vehicle as needed.
Drivers will be able to override the system by pressing hard on the accelerator, but the system will reactivate every time the auto is started.
But it said it could be several months before the European Parliament and Council formally approve them.
The "black box" telemetry data recorders would also become standard equipment on new cars, allowing accident investigators to access information on speed, steering input and other details for the period immediately prior to a crash.
The rules have been approved at the committee stage.
"Every year 25,000 people lose their lives on our roads", said Elzbieta Bienkowska, the European Commissioner responsible for internal market and industry. If the planned measures are approved, he added, they could prevent 25,000 deaths within 15 years.
"Limiting speed may initially sound somewhat Big Brother-like, but as it stands the intention is for the technology to be overridable in certain situations - for example by pressing hard on the accelerator to complete an over-taking manoeuvre".
France, on the other hand, has different limits for bad and good weather, on the same roads.
They would also be fitted with reversing safety features such as a camera or sensors under the plans.
Several of the systems, including AEB, are already widely available and standard on many models, in part because they are now required for a auto to score the maximum five stars in the Euro NCAP safety tests.
Despite those rules and others, 25,300 people died and 135,000 were seriously injured on European Union roads in 2017, with speeding cited as a major cause for accidents. Could Britain avoid new ruling?
The European Transport Safety Council (ETSC) called for all cars to have a switch to turn the ISA on or off, though each time a vehicle is started the feature will automatically be active.
Within the next three years, models sold in Europe are expected to use technology that detects limits and slows down vehicles travelling too fast.
The cost of vehicle insurance could fall if plans to install speed limit devices in every auto get the go-ahead in the United Kingdom, according to insurance firms. It cited data from US regulators showing that 25 percent of traffic deaths in the United States in 2017 had been caused by speeding.
But the features that will likely get the most attention are "alcohol interlock installation facilitation" and "intelligent speed assistance".
Despite EU-wide safety rules, inequalities between member states persist.
The legislation is due to come into effect from May 2022 for models that have not yet been approved for production and May 2024 for new cars now for sale.