Maritime Administration Authorization Act for Fiscal Years 1998 and 1999

Maritime Administration Authorization Act for Fiscal Years 1998 and 1999 - Authorizes appropriations for the Department of Transportation for: (1) operations and training activities; and (2) the costs of guaranteed loans authorized by the Merchant Marine Act, 1936, as well as for administrative expenses related to loan guarantee commitments.

Amends the Merchant Marine Act, 1936 to end a requirement that an annual report be submitted to the Congress on the relative cost of construction or reconditioning of ocean vessels in shipyards in various U.S. coastal districts.