Transparency in Policing Act of 2014 or the TIP Act of 2014 - Directs the Attorney General to conduct a study on the cost to state and local law enforcement agencies of purchasing and using body cameras.
Conditions the receipt by a state or local law enforcement agency of federal funds from a grant program carried out by the Department of Justice (DOJ) on the purchase of body cameras for use by the law enforcement officers employed by that agency. Authorizes the Attorney General to waive such requirement upon determining that compliance would create a hardship for such agency.