Pipeline Safety Improvement Act of 1994

Pipeline Safety Improvement Act of 1994 - Amends the Natural Gas Pipeline Safety Act of 1968 and the Hazardous Liquid Pipeline Safety Act of 1979 to authorize the Secretary of Transportation to recover from any person engaged in the transportation of gas or hazardous liquids, or from the owner or operator of pipeline facilities, the costs incurred in: (1) investigating an accident; and (2) overseeing the person's response to the accident. Sets a limit upon the amounts recoverable.

Authorizes the Secretary to make grants to: (1) the States for the development and establishment of a one-call notification system; and (2) one-call notification systems for promoting their use.

Prescribes guidelines under which the Secretary may develop an electronic data base on pipeline facilities in order to facilitate risk assessment and safety planning. Authorizes appropriations.

Directs the Federal Energy Regulatory Commission to review its practices and guidelines for siting natural gas interstate transmission facilities in urban areas in order to determine whether changes are needed in route selection and right-of-way widths. Authorizes appropriations.

Instructs the Secretary to make educational information available to local governments over whose lands pass: (1) natural gas interstate transmission facilities; and (2) hazardous liquid interstate pipeline facilities. Authorizes appropriations.

Prohibits excavation and solid waste disposal activity within pipeline rights-of-way, or within a limited area in the vicinity of an interstate pipeline facility.

Modifies the deadline for the Secretary to issue regulations for periodic pipeline inspections by instrumented internal inspection devices (smart pigs). Instructs the Secretary to prescribe a schedule for such inspections.

Requires the owner or operator of an interstate transmission facility to notify annually all residents within certain distances of such facility of procedures for reporting instances of dumping and excavation.

Directs the Secretary to develop public service announcements governing pipeline safety.

Directs the Secretary to promulgate regulations requiring the use of remotely or automatically controlled valves for shutting off gas flow in the event of an accident or a loss of the primary power source.

Requires the owner or operator of certain pipelines to obtain baseline pipeline safety information through the use of smart pigs.