Equity in Law Enforcement Act of 2014 - Amends the Omnibus Crime Control and Safe Streets Act of 1968 to: (1) expand the definition of "public service officer," for purposes of provisions concerning public safety officer death benefits, to include a law enforcement officer serving a private institution of higher education in an official capacity, or a rail police officer employed by a rail carrier, who is sworn, licensed, or certified under the laws of a state for the purposes of law enforcement (applicable to a personal injury sustained in the line of duty by a public safety officer on or after April 15, 2013); (2) authorize the Director of the Bureau of Justice Assistance to make grants to such institutions and carriers for the purchase of armor vests for such officers; and (3) include such institutions and carriers among entities eligible for contracts or subawards under the Edward Byrne Memorial Justice Assistance Grant Program.