National Highway Traffic Safety Administration Reauthorization Act of 1998

National Highway Traffic Safety Administration Reauthorization Act of 1998 - Reauthorizes appropriations for motor vehicle safety and information activities of the National Highway Traffic Safety Administration (NHTSA) for FY 1999 through 2001.

(Sec. 3) Prohibits the use of such funds for any activity specifically designated to urge a State or local legislator to favor or oppose the adoption of any specific legislative proposal pending before a State or local legislature.

(Sec. 4) Directs the Secretary of Transportation to: (1) communicate to the public information regarding the reasonable risks and benefits of any major device or design element to be installed on or in a motor vehicle or motor vehicle equipment in compliance with a motor vehicle safety standard determined by the Secretary to be important to occupant protection; and (2) provide notice that the Secretary is considering the means for doing so and opportunity for comment on the extent to which the information can be communicated in a scientifically objective manner, and can be made available to consumers in a clear and easily understandable format through the Internet, public libraries, and other appropriate means. Prohibits the Secretary from requiring a manufacturer or distributor to distribute any statement of reasonable risks and benefits without determining that doing so is essential to motor vehicle safety.

(Sec. 5) Directs the Secretary, when prescribing or revising a motor vehicle safety standard, to design occupant protection standards to protect improperly restrained and positioned occupants only to the extent that such a design would not substantially increase the risk of injury to properly restrained and positioned occupants.

(Sec. 6) Makes provisions regarding mileage disclosure requirements on the transfer of motor vehicles applicable to all such transfers not exempted by the Secretary, except in the case of transfers of new motor vehicles from a vehicle manufacturer jointly to a dealer and a person engaged in the business of renting or leasing vehicles for a period of 30 days or less. Authorizes the Secretary to exempt such classes or categories of vehicles as the Secretary deems appropriate.

(Sec. 7) Authorizes the Secretary to engage in activities that improve worldwide motor vehicle safety.

Directs the Secretary: (1) not less than quarterly, to provide notice of, and hold a public meeting to receive comments on the subject matter of, any decision-making meetings scheduled to be held with an international body or representatives of a foreign nation before the next required public meeting; and (2) to make available to the public any relevant information and records concerning the matter of any such meetings as those materials become available.

(Sec. 8) Repeals: (1) prohibitions on the Secretary's taking action with respect to exemptions from notification of, and remedies for, motor vehicle defects and noncompliance except after notice in the Federal Register and an opportunity for interested persons to present information, views, and arguments; and (2) specified tire labeling requirements.

Considers retailers of motor vehicle equipment to be "dealers" for purposes of provisions regarding remedies for defects and noncompliance.

Changes from every six months to annually the requirement that the Secretary report on the effectiveness of occupant restraint systems.

Amends the American Automobile Labeling Act to: (1) include the assembly and labor costs incurred for the final assembly of engines and transmissions within the engine and transmission "country of origin" determination; (2) exclude from the definition of "final assembly place" facilities for engine and transmission fabrication and assembly and for fabrication of motor vehicle equipment component parts which are produced at the same final assembly place using forming processes such as stamping, machining, or molding processes.

Requires suppliers to report domestic content (i.e., of U.S.-Canadian origin) of parts manufactured by outside suppliers to the nearest five percent, subject to specified requirements.

Authorizes a manufacturer to: (1) add to the required label a line stating the country in which vehicle assembly was completed; (2) display separately on the required label the domestic content of a vehicle based on the country in which the assembly plant is located, following the required matter; and (3) make its own good faith value added determinations (subject to specified limitations) including determinations regarding the content of up to ten percent of the vehicle's parts.

Considers the country of origin of specified small parts installed in a vehicle to be the country in which such parts were included in the vehicle's final assembly.

Directs the NHTSA to study and report to specified congressional committees on the benefits to motor vehicle drivers of a regulation to require the installation of an interior device to release the trunk lid.

(Sec. 9) Reinstates NHTSA's authority to exempt certain motor vehicles imported for the purpose of show or display from certain applicable motor vehicle safety standards.