A bill entitled the Recreational Boating Safety Program Funding Improvement Act.

Amends the Internal Revenue Code to require the transfer of specified amounts equivalent to the motorboat fuel taxes received during a year by the Highway Trust Fund to the land and water conservation fund.

Extends the authority to make amounts in the Boat Safety Account available for State recreational boating safety programs.

Amends the Dingell-Johnson Sport Fish Restoration Act to require for FY 1995 through 1998 the transfer of specified amounts from the Sport Fish Restoration Account to the Boat Safety Account of the Aquatic Resources Trust Fund for recreational boating safety programs. Earmarks specified amounts for qualified projects under the Clean Vessel Act of 1992. Transfers unobligated amounts for recreational boating safety programs.

Amends Federal shipping law to make a specified amount of funds from the Boat Safety Account available for expenditures out of the operating expenses account of the Coast Guard for services provided by it for recreational boating safety, including services provided by the Coast Guard Auxiliary.

Authorizes expenditure of the balance of amounts transferred each year to the Boat Safety Account for State recreational boating safety programs.