Stabilizing Workforce and Towns Act of 1998

Stabilizing Workforce and Towns Act of 1998 - Directs the Secretary of Commerce, in consultation with the President's Economic Adjustment Committee, to ensure that a Stabilizing Workforce and Towns Team (SWAT Team) is mobilized and that such team travels to a community in need after an application for assistance is received by the Secretary. Provides for such application to be submitted by the Governor of the State in which the community that is requesting assistance is located and to contain such information as the Secretary may require in order to determine whether the area is a community in need. Lists the Federal agencies from which members (and additional members) of the SWAT Team shall be composed.

Requires the SWAT Team to: (1) establish operations in the community in need and maintain such operations for a minimum of five days; (2) provide to residents of such community information and materials that describe all relevant Federal assistance programs available and the process for applying for such assistance, and to make available the applications for such assistance; (3) provide information to such residents on additional resources available to them to address their economic needs; and (4) designate a SWAT Team member as a liaison to such community to continue advising the community on the long-term recovery of the community. Defines the term "community in need" to mean an area that the Secretary determines is experiencing a sudden and severe dislocation because of the closure or significant downsizing of a plant or industry in the area.

Requires the SWAT Team, not later than 60 days after the completion of a SWAT Team response in a community in need, to submit a report to the Congress, such community's congressional delegation, and the President's Economic Adjustment Committee containing a description of the assistance provided by the Team, recommendations regarding assistance to be provided by Teams in future responses, information on the long-term recovery plan for the community in need, and any other information on the provision of Federal assistance to communities in need, including community applications for Federal assistance that the team determines to be appropriate. Directs the Secretary to maintain all SWAT Team reports in a centralized location and make such reports available to the public.