Handgun Trigger Safety Act of 2014

Handgun Trigger Safety Act of 2014 - Requires the Director of the National Institute of Justice to make one-year grants to qualified entities (states or local governments, organizations, or institutions of higher education) to develop technology for personalized handguns (a handgun that is manufactured to enable only the authorized user to fire it). Provides that a recipient shall use at least 70% of the grant amount to develop technology for personalized handguns and may use not more than 20% to develop technology for retrofitted personalized handguns and not more than 10% for administrative costs.

Prohibits any person: (1) beginning two years after enactment of this Act, from manufacturing in the United States a handgun that is not a personalized handgun; or (2) beginning three years after enactment of this Act, from distributing in commerce any handgun that is not a personalized handgun or a retrofitted personalized handgun. Exempts antique firearms and firearms distributed or sold to the Department of Defense (DOD). Provides for the enforcement of such prohibitions by the Consumer Product Safety Commission (CPSC) and by the states.

Requires a handgun manufacturer, upon request of the owner of a handgun manufactured in the United States that is not a personalized handgun or a retrofitted personalized handgun, to retrofit the handgun and return it to the owner within a reasonable period of time as established by the CPSC. Makes the Department of Justice Assets Forfeiture Fund available to the Attorney General for payments to reimburse handgun manufacturers for the costs of retrofitting handguns.

Amends the Protection of Lawful Commerce in Arms Act to exclude from the definition of "qualified product" any handgun manufactured after two years after enactment of this Act that is not a personalized handgun or retrofitted personalized handgun.