International Narcotics Control Corrections Act of 1994

International Narcotics Control Corrections Act of 1994 - Amends the Foreign Assistance Act of 1961 to redefine a "major illicit drug producing country" as a country in which 1,000 hectares or more of illicit opium poppy or coca is cultivated or harvested annually or 5,000 hectares or more of illicit cannabis is cultivated or harvested annually unless the President determines that such cannabis production does not significantly affect the United States.

Provides for advance notification to the appropriate congressional committees of any transfer by the Government to a foreign country, for narcotics control purposes, of property or funds seized or forfeited in connection with narcotics-related activities.

Reallocates foreign assistance (currently, security assistance) withheld from countries that fail to take adequate steps to halt illicit drug production or trafficking.

Extends certain international narcotics control strategy reporting requirements and annual certification procedures for FY 1993 and 1994 through FY 1995. Makes such requirements and procedures currently applicable after September 30, 1994, effective after September 30, 1995 (the beginning of FY 1996).

Repeals specified international narcotics control Acts.

Exempts specified narcotics control-related transfers of excess defense articles, foreign military financing, and international military education and training from a prohibition on assistance to foreign law enforcement agencies.

Waives all restrictions on assistance (except for countries that are "decertified" under narcotics control certification provisions) with respect to narcotics-related assistance provided during FY 1995 if the President notifies the appropriate congressional committees in advance.

Authorizes the President to furnish assistance to any country or international organization during FY 1995 for the prevention and suppression of international criminal activities. Exempts such assistance from the prohibition on assistance to foreign law enforcement agencies.

Requires the President to take steps to ensure that the immediate relatives of any individual involved in drug trafficking are not permitted entry into the United States consistent with the Immigration and Nationality Act.

NATO Participation Act of 1994 - Authorizes the President to establish a program to assist the transition to full North Atlantic Treaty Organization (NATO) membership of Poland, Hungary, the Czech Republic, Slovakia, and other designated Partnership for Peace countries.

Permits the President, in carrying out such program, to provide excess defense articles, international military education and training, and foreign military financing assistance to such countries.