World War I Memorial Act of 2014 - Designates the Liberty Memorial of Kansas City at America's National World War I Museum in Kansas City, Missouri, as the National World War I Museum and Memorial.
Redesignates Pershing Park in the District of Columbia as the World War I Memorial (Memorial).
Authorizes the World War I Centennial Commission (Commission) to plan, develop, and execute ceremonies to recognize the above designation and redesignation and to enhance the General Pershing Commemorative Work by constructing appropriate sculptural and other elements on the Memorial.
Amends the World War I Centennial Commission Act to: (1) allow for completion of construction at the Memorial after termination of the Commission, and (2) revise provisions concerning Commission members and pay rates. Prohibits any federal funds from being obligated or expended for the designation, establishment, or enhancement of a memorial or commemorative work by the Commission.