Independent Safety Board Act Amendments of 1994

Independent Safety Board Act Amendments of 1994 - Amends Federal transportation law to authorize appropriations for FY 1994 through 1996 for the National Transportation Safety Board (NTSB).

(Sec. 3) Revises the application of Federal Aviation Administration (FAA) economic and safety requirements to public aircraft (aircraft used exclusively in the service of any Federal, State, or local government, except government-owned aircraft engaged in transporting persons or property for commercial purposes). Revises the definition of "public aircraft" to include provision of non- commercial passenger transportation of crewmembers or other persons aboard such aircraft for a governmental function such as firefighting, search and rescue, law enforcement, aeronautical research, or biological or geological resource management. Authorizes the Administrator of the FAA (Administrator) to exempt such aircraft from such requirements if he: (1) finds that such exemption is necessary to prevent undue economic burden on the government unit which owns and operates or exclusively leases it; and (2) certifies that the government unit's aviation safety program is effective to ensure the safe operation of such aircraft.

Grants the NTSB authority to investigate nonmilitary public aircraft accidents.

(Sec. 4) Declares that the United States releases, without consideration, all reservations, restrictions, conditions, and limitations contained in a certain deed conveying certain property, known as Esler Field, to the Parish of Rapides, Louisiana. Sets forth specified exceptions. Requires the Administrator to enter into an agreement with the Airport Authority of Rapides Parish, Louisiana, to provide for the terms and conditions under which such real property may be used, leased, sold, or otherwise disposed.