Child Care for Working Parents Act of 1998

Child Care for Working Parents Act of 1998 - Authorizes the Secretary of Health and Human Services to make a grant, for up to five years subject to annual approval, to a private, nonprofit entity for operation of a national, toll-free telephone hotline to provide information and assistance to families seeking quality early childhood education services. Authorizes appropriations.

(Sec. 3) Amends the Child Care and Development Block Grant Act of 1990 (CCDBGA) to extend the authorization of appropriations through FY 2002.

Requires State plans to ensure timely payments to participating child care providers for child care services under CCDBGA.

Requires States to use at least four percent of CCDBGA assistance for one or more of the following: (1) resource and referral programs; (2) grants or loans to assist in meeting State and local standards; (3) monitoring of compliance with licensing and regulatory requirements; (4) training; and (5) compensation.

(Sec. 4) Amends the Internal Revenue Code to establish a tax credit for employer expenses in providing certain dependent care services. Makes such employer day care center credit part of the general business credit. Disallows a specified double benefit with respect to such credit.

(Sec. 5) Amends the Elementary and Secondary Education Act of 1965 to extend through FY 2002 the authorization of appropriations for a program of assistance for an extended time for learning and a longer school year.