Corporate Good Citizenship Contract Act of 1998

Corporate Good Citizenship Contract Act of 1998 - Requires certain employers subject to the Worker Adjustment and Retraining Notification Act which intend to shut down an employment site permanently, and give (or are required to give) notice of a plant closing, to negotiate in good faith regarding possible means of using the plant and equipment for continued employment in the area of the plant's location. Requires such an employer to negotiate with: (1) any employees' union (or their representative committee if there is no union); and (2) a committee of public officials, plant employee representatives, and community residents designated by the local government (or, if no such committee is designated, the chief elected officer of such government). Requires the employer, if so requested by the union (or other employee representative) or the designated local committee (or chief elected local officer), to engage in good faith negotiations to sell all or part of the building and equipment of the plant to be closed to a buyer able and willing to use it to provide employment either at the plant site or at another location within the affected county or metropolitan statistical area.

Permits any employee of an employer to complain to the Secretary of Labor that the employer is not negotiating in good faith as required by this Act.

Prohibits any employer determined not to be negotiating in good faith, and any affiliate of the employer, from taking a Federal tax deduction for depreciation or amortization for any plant and equipment placed in service during the ten-year period after the notice is required to be made.