State and Local River Conservation Act of 1988

State and Local River Conservation Act of 1988 - Encourages States to make specified assessments with respect to the identification of rivers needing environmental protection and to develop protection programs with respect to such rivers. Requires each State to develop river protection plans designed to protect such rivers' natural and environmental values. Requires each State, in developing such plans, to make reasonable efforts, including the creation of river protection commissions, to consult with interested parties. Requires the Secretary of the Interior and the Secretary of State to appoint river protection commission members. Requires such commissions to assist in the development and implementation of river protection plans.

Authorizes appropriations.

Authorizes the Secretary of the Interior to make grants to States, local governments, or river commissions that intend to develop or implement programs and river protection plans. Limits Federal funds to no more than 67 percent of the cost of State programs developed under this Act. Requires the Secretary of the Interior to review State river protection programs every five years for compliance with this Act. Terminates assistance for those States which fail to comply.

Provides that current State river protection efforts meeting the criteria under this Act shall be automatically eligible for river protection grants. Provides that this Act shall not affect State or Federal programs developed under the Wild and Scenic Rivers Act and is intended to supplement and enhance the river protection provisions of the Electric Consumer Protection Act of 1986.

Prohibits a permit, license, or exemption, or an amendment thereto, to be issued for the construction of an original hydroelectric project by the Federal Energy Regulatory Commission if, at the time the application is considered by the Commission, the project would be inconsistent with a State's river protection plan. Requires the Commission to comply with specified requirements when relicensing a hydroelectric project. Requires each Federal agency conducting or regulating activities on rivers covered by this Act to conduct or regulate those activities in a manner consistent with the Electric Consumer Protection Act of 1986 and this Act.