Indian Gaming Regulatory Improvement Act of 1998

Indian Gaming Regulatory Improvement Act of 1998 - Amends the Indian Gaming Regulatory Act. Revises definitions.

Redesignates the National Indian Gaming Commission as the National Indian Gaming Regulatory Commission. Revises and expands Commission powers.

Directs the Commission to advise the Secretary of the Interior with respect to the establishment of minimum Federal standards for background investigations, internal control systems, and licensing. Requires the Secretary, in accordance with specified negotiated rulemaking procedures, to promulgate such standards. Grants the Commission investigatory authority.

Sets forth the regulatory framework for class II and III gaming.

Sets forth requirements for: (1) conduct of class I, II, and III gaming on Indian lands; and (2) contract review.

Authorizes class III gaming on Indian lands only in accordance with an approved compact between the State and Indian tribe concerned. Prohibits the Secretary from approving a compact if the compact requires State regulation of Indian gaming absent State or Indian tribe consent.

Sets forth civil penalty and judicial review provisions.

Revises the existing gaming fee structure and raises the ceiling on the maximum amount of fees that may be imposed per fiscal year.

Establishes the Indian Gaming Trust Fund, to consist of fees collected from class II and III gaming activities and to be used to fund Commission activities.

Changes, from after October 17, 1988, to after this Act's enactment date, the effective date of certain prohibitions on gaming on lands acquired by the Secretary in trust for an Indian tribe. Retains certain exceptions to such prohibitions for the St. Croix Chippewa Indians of Wisconsin and the Miccosukee Tribe of Florida. Authorizes an exception in cases where the use of such lands for gaming purposes is provided for in an approved tribal-State compact.

Amends the Indian Self-Determination and Education Assistance Act to prohibit former Federal employees from acting as agents or attorneys for clients in connection with matters or decisions involving the Indian Gaming Regulatory Act in which they had personal and substantial involvement while Federal employees.