Small Business Paperwork Reduction Act Amendments of 1998

Small Business Paperwork Reduction Act Amendments of 1998 - Amends the Paperwork Reduction Act to require the Director of the Office of Management and Budget to: (1) publish annually in the Federal Register a list of requirements applicable to small business concerns with respect to collection of information by agencies (requiring the first such publication within one year after enactment of this Act); and (2) make such list available on the Internet (again within one year after enactment). Requires each Federal agency, with respect to the collection of information and the control of paperwork, to establish one agency point of contact to act as a liaison with small businesses. Requires each such agency, in the case of a first-time information collection violation by a small business, to impose no civil fine on such business unless: (1) the head of the agency determines that the violation has caused actual serious harm to the public, or that failure to impose a fine would impede the detection of criminal activity, or presents an imminent and substantial danger to public health or safety; or (2) the violation concerns the collection of a tax or is not corrected within six months after violation notification. Authorizes each agency, if a violation presents an imminent and substantial danger to public health or safety, to impose no civil fine if the violation is corrected within 24 hours after violation notification, taking into account specified factors.

Requires each agency to make efforts to further reduce the paperwork burden for small businesses with fewer than 25 employees.

Establishes a task force to study and report to specified congressional committee members on the feasibility of streamlining requirements with respect to small businesses regarding the collection of information.