Jim,
Please look at the article where I discuss the household hazardous waste and sewage mixture exclusions under RCRA. You do not have to dilute, neutralize, or otherwise treat the lye solution before you send it down the drain to a publicly-owned treatment plant.
You could use vinegar to neutralize a lye solution, but why bother? Unless you have a way to check the pH, how would you know how much vinegar to add?
I do not recommend pouring it out somewhere in the yard.