Runway Safety Improvement Act of 2008

Runway Safety Improvement Act of 2008 - Directs the Administrator of the Federal Aviation Administration (FAA) to develop and submit to Congress: (1) a strategic runway safety plan; as well as (2) a plan and schedule for installation and deployment of systems to alert air traffic controllers and flight crews of potential runway incursions at commercial airports and general aviation airports that are most at risk of such incursions.

Directs the Inspector General of the Department of Transportation (DOT) to review and report annually to Congress on the installation of each advanced surface movement system funded by the Administrator.

Authorizes appropriations for the purchase and installation of certain runway incursion avoidance systems.

Directs the Administrator to: (1) review runway and taxiway lighting (both at daytime and nighttime) and markings at certain airports for compliance with FAA standards; (2) identify runways on which nonstandard lighting and markings may contribute, or may have contributed, to operational errors or incidents; and (3) submit such review to Congress along with a plan for remedying variance in lighting conditions and markings at nonstandard runways.

Directs the Administrator to evaluate for Congress the potential for improving safety and accident investigations through the use of systems that monitor and record the status of lighting systems on the movement areas of, or that are critical to the safe operations at, certain airports.

Requires the Administrator to: (1) initiate a rulemaking to revise federal aircraft rescue and firefighting standards to improve the protection of the public from fires and hazardous materials incidents; (2) collect data on aircraft runway overruns that do not result in fatalities or property damage; and (3) report to Congress on potential safety risks identified by such data, including actions taken by airports and the FAA to reduce those risks.