Wolf Livestock Loss Prevention and Mitigation Act

Gray Wolf Livestock Loss Prevention and Mitigation Act of 2008 - Authorizes the Secretary to the Interior and the Secretary of Agriculture to establish a five-year demonstration program to provide grants to states and Indian tribes to assist livestock producers, with respect to activities and losses that may occur on federal, state, private, or Indian land, to undertake proactive, nonlethal, activities to reduce the risk of livestock loss as a result of predation by wolves.

Requires the Secretaries to establish criteria and requirements to implement the demonstration program and when promulgating regulations for the implementation of such program, to consult with states that have implemented state programs that provide assistance to livestock producers.

Sets forth requirements states and Indian tribes shall meet to be eligible to receive a grant.

Prescribes criteria for the allocation of funding.

Limits the federal share of the cost of any activity provided assistance under this Act to half of the total cost of that activity.

Authorizes appropriations.