Preparedness and Risk Management for Extreme Weather Patterns Assuring Resilience Act of 2014 or the PREPARE Act of 2014 - Directs the President to establish the Interagency Council on Extreme Weather Resiliency, Preparedness, and Risk Management (Council), co-chaired by an employee of the Office of Management and Budget (OMB).
Directs the Council on Environmental Quality to provide administrative support and additional resources to the Council.
Requires the Council to establish government-wide goals and priorities for extreme weather preparedness and risk management.
Requires each agency to submit biannually to OMB and to the Council a comprehensive plan that integrates extreme weather into its operations and overall objectives.
Requires the United States Global Change Research Program to designate a participating agency to maintain an Internet website providing extreme weather preparedness information.
Directs the Council to publish biannually an inventory of all regional agency offices, centers, and programs that assist with extreme weather preparedness and risk management at the municipal level.
Requires annual agency performance plans to include the most recent agency extreme weather plan.