Nuclear Standardization and Safety Reform Act of 1988

Nuclear Standardization and Safety Reform Act of 1988 - Title I: Establishment of Agency - Establishes the Nuclear Safety Agency as an independent regulatory agency to succeed the Nuclear Regulatory Commission. Sets forth the Agency's officers and administration (including a Director and Deputy Director to be appointed by the President with the advice and consent of the Senate). Abolishes the Nuclear Regulatory Commission. Transfers Commission functions, assets, and staff to the Nuclear Safety Agency. Sets forth transition procedures.

Title II: Standardization and Licensing - Amends the Atomic Energy Act of 1954 to direct the Agency to establish procedures for the preapproval of a limited number of standardized facility designs for production or utilization facilities for a ten-year period.

Authorizes the Agency to consider design approval requests for any major subsystem that represents discrete elements of a production or utilization facility. Requires the Agency to specify by regulation the criteria and requirements for any subsystem approval. States that a design approval shall be considered to be a license. Sets forth guidelines for the issuance of a design approval, including ten-year renewal terms.

Authorizes the Director to issue a site approval permit for a ten-year period even if an application for a construction permit or operating license has not been filed. Outlines the site approval procedure and the procedures for facility construction permits and operating licenses.

Title III: Conforming Amendments - Sets forth conforming amendments.

Title IV: Effective Date - Sets forth the effective date of this Act.