Public Safety and Community Policing Grants Reauthorization Act of 1998

Public Safety and Community Policing Grants Reauthorization Act of 1998 - Reauthorizes funding under the Omnibus Crime Control and Safe Streets Act of 1968 for the "Cops on the Beat" grant program through FY 2005.

(Sec. 3) Revises such Act to: (1) allow grants made for hiring or rehiring additional career law enforcement officers or to promote redeployment of officers by hiring civilians to be renewed for an additional three-year period beginning the fiscal year after the last fiscal year during which a recipient receives its initial grant; (2) allow grants made for hiring or rehiring additional career law enforcement officers, in a case in which a recipient's initial grant has expired prior to the date of this Act's enactment, to be renewed for an additional three-year period beginning the fiscal year after the date of this Act's enactment; and (3) authorize to be appropriated such sums as may be necessary to carry out this section (but in a case in which a recipient receives a grant for an additional three-year period, the amount for any additional years shall be increased by three percent to reflect a cost of living adjustment).

(Sec. 4) Amends matching funds requirements to provide that, in relation to a grant for a period exceeding one year for hiring or rehiring career law enforcement officers, the Federal share shall decrease from year to year for each three-year grant period (currently, for up to five years).

(Sec. 5) Repeals a $75,000 cap on funding for hiring or rehiring a career law enforcement officer.