Nuclear Non-Proliferation Policy Act of 1998

Nuclear Non-Proliferation Policy Act of 1998 - Provides that, in order to end nuclear proliferation and reduce current nuclear arsenals and supplies of weapons-usable nuclear materials, it shall be U.S. policy to pursue certain nuclear nonproliferation objectives, including: (1) reaching a verifiable agreement with the Russian Federation to place all fissile materials from nuclear weapons under bilateral or international controls, or both, and end the production of new types of nuclear warheads; (2) ratifying the Comprehensive Nuclear Test Ban Treaty (calling on North Korea, India, and Pakistan to sign such treaty) and the South Pacific Nuclear Free Zone and the African Nuclear Weapons Free Zone Treaties; (3) beginning formal negotiations to reach a verifiable multilateral agreement to reduce the strategic nuclear arsenals of the United States and the Russian Federation to within specified ranges, with lower levels for the United Kingdom, France, the People's Republic of China, and other countries with nuclear arsenals; (4) reaching an immediate multilateral agreement with Nuclear Nonproliferation Treaty member states to halt permanently the production of weapons usable fissile materials and place existing stockpiles of such materials under bilateral or international controls; (5) strengthening International Atomic Energy Agency safeguards to verify that countries are complying with their nonproliferation commitments; (6) strengthening U.S. nuclear and dual-use export controls; and (7) beginning formal negotiations on START III between the United States and the Russian Federation before START II becomes effective.

Directs the President to report annually to the Congress on implementation of the policy objectives.