S.2935 - Federal Government - A bill to prevent the destruction of terrorist and criminal national instant criminal background check system records.

Preserving Records of Terrorist & Criminal Transactions Act of 2008 or the PROTECT Act of 2008 - Amends the federal criminal code to require: (1) the retention for a minimum of 10 years of criminal background check records for known or suspected members of terrorist organizations who attempt to purchase firearms or apply for a state permit to possess, acquire, or carry firearms; and (2) the retention for at least 180 days of other criminal background check records relating to firearms purchases.

Repeals certain provisions that require the destruction within 24 hours of identifying information for individuals who legally purchase or possess firearms.