Film Disclosure and Preservation Act of 1988

Film Disclosure and Preservation Act of 1988 - Amends Federal copyright law to mandate the conspicuous disclosure at each public exhibition of a materially altered film (including colorized film and any promotional or rental activity relating to it): (1) that it has been materially altered from the form in which it was first released to the public; (2) the nature of such alteration; and (3) any objection raised by an aggrieved party to such alteration. Requires any person who proposes to exploit a materially altered film to notify specified persons by registered mail of such intent.

Permits statutory and punitive damages, including attorney's fees, to a party aggrieved by violations of the notice and disclosure requirements. Preempts State laws respecting the material alteration of films.

Establishes the National Film Preservation Commission to: (1) determine methods to encourage the restoration and preservation of films; (2) report annually to the Congress regarding the efficacy of the disclosure requirements under this Act; and (3) report to the Congress whether categories of audiovisual works other than films should be brought within the scope of such disclosure requirements.