Colonias Improvement Act of 2014 - Directs the Environmental Protection Agency (EPA) to issue, in consultation with the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA), a rule defining colonia (a type of settlement along the border of the United States and Mexico) that:
Directs the EPA, HUD, and USDA to establish and update an online clearinghouse with information relating to covered programs and links to information specific to each state.
Requires EPA to establish a working group that includes HUD and USDA to review covered programs, record information relating to each award made under a covered program, hold public hearings, and make recommendations to Congress for improving the programs.