Federal Payment Formula Reauthorization Act of 1994

Federal Payment Formula Reauthorization Act of 1994 - Amends the District of Columbia Self-Government and Governmental Reorganization Act to provide that the authorization of appropriations for the annual Federal payment to the District of Columbia for FY 1996 through 1998 shall be an amount equal to 24 percent of the adjusted District General Fund revenues for the second fiscal year preceding such fiscal year, as such revenues are reported in the audited financial report of the District of Columbia and as reviewed by the Comptroller General.

Amends the District of Columbia Code to include, in the annual independent audit of the District's financial operations, a report of the adjusted District General Fund revenues for the fiscal year. Requires the Comptroller General to submit to specified congressional committees an annual review of such report.