National Public Telecommunications Infrastructure Act of 1994 - Amends the Communications Act of 1934 to require the Federal Communications Commission (FCC) to require owners and operators of telecommunications networks to reserve, for public uses, capacity on such networks for use free-of-charge by eligible entities. Considers the reserved capacity as public property subject to disposition. Provides that the owner or operator of any affected telecommunication network shall not have control over, or liability for, the communications content of such capacity.

Prohibits telecommunications networks from being required to reserve in excess of 20 percent of their capacity for public use. Allows the FCC to temporarily reduce such required reserved capacity by the unused portion.

Requires the quality of telecommunications capacity reserved for public uses to be equivalent to the best quality of available capacity of the affected telecommunications network.

Authorizes the FCC to reduce or eliminate such imposed obligations upon a telecommunications network that ensures that economic and technological barriers to access by eligible entities are eliminated.

Includes as eligible entities: (1) State, local, and tribal governments and their agencies; (2) accredited educational institutions open to enrollment by the public; (3) public telecommunications entities; (4) public and nonprofit libraries; and (5) nonprofit organizations that are formed to provide nondiscriminatory public access to noncommercial educational, informational, cultural, civic, or charitable services.

Specifies the terms and conditions of such access.

Directs the FCC to establish a Public Telecommunications Infrastruture Fund to provide eligible entities with economic support to use the capacity reserved on telecommunications networks to provide noncommercial governmental, educational, informational, cultural, civil, and charitable services for the public.