Energy Conservation Reauthorization Act of 1998

Energy Conservation Reauthorization Act of 1998 - Amends the Energy Policy and Conservation Act to authorize appropriations for FY 1999 through 2003 for: (1) State energy conservation programs; and (2) the energy conservation program for schools and hospitals.

(Sec. 3) Amends the Energy Conservation and Production Act to authorize appropriations for FY 1999 through 2003 to implement the weatherization program.

(Sec. 4) Amends the National Energy Conservation Policy Act to extend until October 1, 2003, Federal agency authority to enter into new energy savings performance contracts.

(Sec. 6) Repeals termination of the President's authority to require either allocation or priority contract performance of materials supplies and equipment in order to maximize domestic energy supplies under certain energy contingencies (thereby making such authority permanent).

(Sec. 7) Amends the Energy Policy Act of 1992 to set forth a statutory mechanism for the allocation of credit for specified biodiesel fuel use by a fleet or covered person.

Requires the Secretary to allocate one credit to a fleet or covered person for each qualifying volume of the biodiesel component of fuel containing at least 20 percent biodiesel by volume (B-20) purchased for use by the fleet or covered person in vehicles owned or operated by the fleet or covered person that weigh more than 8,500 pounds gross vehicle weight rating. Permits the Secretary to lower the B-20 requirement for reasons related to cold start, safety, or vehicle function considerations.

Prohibits the allocation of credits for a purchase of biodiesel: (1) for use in alternative fueled vehicles; or (2) that is required by Federal or State law.

Requires the Secretary, upon the request of a fleet or covered person receiving a credit allocation, to treat that purchase as the acquisition of one alternative fueled vehicle which the fleet or covered person is required to acquire by such Act.

(Sec. 8) Requires the head of each Federal agency to report annually to the Congress on compliance with the alternative fuel purchasing requirements for Federal fleets, including a plan with specific dates for achieving compliance. Requires public dissemination of such reports in the Federal Register and on the Internet.

(Sec. 9) Amends the Energy Policy and Conservation Act with respect to each offering of a quantity of petroleum product during an Strategic Petroleum Reserve (SPR) drawdown to prescribe guidelines under which the State of Hawaii may: (1) submit binding offers and purchase categories of such product (receiving, at the Governor's request, first preference in scheduling for lifting); and (2) enter into agreements with eligible entities (local refineries) which may act on the State's behalf.

Instructs the Secretary of Energy, at the request of the governor of an insular area, or President of a Freely Associated State, to assist such area or State in its efforts to maintain adequate petroleum products supplies for a maximum 180-day period.

(Sec. 10) Amends the Energy Policy Act of 1992 to extend from 1997 to the year 2003 authorization for demonstration programs promoting energy resource development and energy vertical integration on Indian reservations.

(Sec. 11) Amends the Energy Policy Act of 1992 to authorize increased appropriations for remedial action at active processing sites, including off-site disposal at thorium processing sites.

Amends the Atomic Energy Act of 1954 to increase the requisite deposit level in the Uranium Enrichment Decontamination and Decommissioning Fund from $480 million to $488.333 million.