Revised Ozone and Particulate Matter Standards Implementation Act of 1998

[AI summary unavailable — showing source text] Revised Ozone and Particulate Matter Standards Implementation Act of 1998 - Amends the Clean Air Act to provide that all requirements of such Act regarding the implementation of a revised national ambient air quality standard (NAAQS) shall apply to the eight-hour ozone and revised particulate matter (PM) standards, except as specified in this Act. Defines the "eight-hour ozone standard" as the NAAQS (primary and secondary) for ozone as revised on July 18, 1997. Makes existing additional provisions relating to ozone nonattainment areas inapplicable to areas that have attained air quality meeting the one-hour ozone standard. Defines the "one-hour ozone standard" as the NAAQS (primary) for ozone existing prior to July 18, 1997. Provides that States shall not be required to prepare maintenance plans for areas that have attained such standard. Directs the Administrator of the Environmental Protection Agency to authorize States to establish cap and trade programs to control regional transport of oxides of nitrogen under which a regional limitation is set on pollutant emissions and sources are allowed to trade emissions credits to achieve required reductions. Authorizes States that establ…