Significant Regulation Oversight Act of 1998

[AI summary unavailable — showing source text] Significant Regulation Oversight Act of 1998 - Prohibits a significant rule from taking effect before the enactment of a joint resolution described in section four of this Act comprised solely of the text of the rule. Requires, before a proposed significant rule takes effect as a final rule, the agency proposing the rule to submit to each House of Congress a report containing: (1) a copy of the proposed rule; (2) a concise summary of such rule, its purpose, and anticipated effects; (3) a complete copy of any cost-benefit analysis report that has been prepared by the agency with respect to the rule; (4) an explanation of the specific statutory interpretation under which a rule is proposed; and (5) any other relevant information or requirements under any other Act and any relevant Executive order. Requires each House of the Congress to provide a copy of the report to the Chairman and ranking minority party member of each committee with jurisdiction over the subject matter of the report. States that if the Congress fails to enact a joint resolution as prescribed in this Act approving a proposed significant rule, no court or agency may infer any intent of the Congress from any action o…