National Quality Improvement Award Act of 1986

National Quality Improvement Award Act of 1986 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to establish a National Quality Improvement Award to be evidenced by a medal.

Directs the President or a designee to periodically make the award, on the basis of recommendations from the Secretary of Commerce (the Secretary), to individuals, companies, and other enterprises which have substantially benefited the economic or social well-being of the United States through improvements in the quality of their goods and services resulting from the effective practice of quality management.

Sets forth categories, including nonprofit organizations, in which the award may be given.

Sets forth criteria for qualification for the award.

Directs the Secretary to provide information about the awards and the successful quality improvement strategies and programs of the award-winning participants to all participants and to other appropriate groups.

Provides that funding for the award program shall be from gifts from public and private sources and from fees imposed upon enterprises applying for the award.