Solitary Confinement Study and Reform Act of 2014 - Establishes the National Solitary Confinement Study and Reform Commission, which shall carry out a comprehensive legal and factual study of the penological, physical, mental, medical, social, fiscal, and economic impacts of solitary confinement in the United States on: (1) federal, state, and local governments; and (2) communities and social institutions.

Directs the Commission to report report its findings within two years after its initial meeting, including recommended national standards for significantly reducing the use of solitary confinement in the nation's prisons, jails, and juvenile detention facilities. Prohibits the Commission from proposing a standard that would impose substantial additional costs.

Directs the Attorney General, within two years after receiving the Commission's report, to: (1) publish a final rule adopting national standards for the reduction of solitary confinement; and (2) transmit the standards adopted to the appropriate state and local authorities who oversee operations in prisons, jails, or juvenile detention facilities. Makes the standards applicable to the Federal Bureau of Prisons immediately upon adoption of the final rule.

Provides for a 15% reduction in the funds a state would otherwise receive in a fiscal year under a criminal justice or juvenile justice grant program administered by the Attorney General unless the chief executive of the state or pertinent local government official: (1) certifies adoption of and compliance with such national standards, or (2) assures that not less than 5% of such amount shall be used only to enable the adoption of and compliance with such standards. Directs the Attorney General to publish an annual report listing each grantee that is not in compliance with the standards.