Sport Fish Restoration and Recreational Boating Safety Act of 2014

Sport Fish Restoration and Recreational Boating Safety Act of 2014 - Amends the Federal Aid in Fish Restoration Act to reauthorize through FY2021 the Sport Fish Restoration and Boating Trust Fund. Extends the distributions of appropriations to: (1) the Department of the Interior for coastal wetlands distributions, the Clean Vessel Act of 1992, boating infrastructure, and national outreach and communications; and (2) the Department of Homeland Security (the department in which the Coast Guard is operating) for state recreational boating safety programs. Sets forth a formula that determines the maximum amount Interior may spend on administrative expenses incurred to implement the Act. Sets forth separate set-aside amounts through FY2021 for Coast Guard national recreational boating safety personnel and activities, the National Boating Safety Advisory Council (NBSAC), and boating safety activities of national nonprofit public service organizations. Amends the Internal Revenue Code to extend Fund transfer restriction exceptions through September 30, 2021. Revokes a limitation on the amount the Coast Guard is authorized to allocate for national boating safety activities of national nonprofit public service organizations. Extends the NBSAC through September 30, 2021.