Indian River Lagoon Nutrient Removal Assistance Act of 2014 2014-07-30 Introduced in House Indian River Lagoon Nutrient Removal Assistance Act of 2014 - Requires the Environmental Protection Agency (EPA) to establish an Indian River Lagoon Nutrient Removal Assistance Grant Program to assist projects related to the protection and restoration of the Indian River Lagoon in Florida.

Directs the EPA to issue regulations regarding grant selection criteria that prioritize projects that: (1) produce the greatest nutrient load reductions, (2) result in the greatest environmental benefits to the Lagoon, and (3) advance the goals and objectives of the comprehensive and management plan for the Indian River Lagoon approved under the National Estuary program of the Federal Water Pollution Control Act (commonly known as the Clean Water Act).

Requires the EPA to issue regulations to increase by 5% each civil penalty amount established for a violation of the Clean Water Act.

Amends the Internal Revenue Code to establish an Indian River Lagoon Nutrient Removal Assistance Trust Fund for the Program. Requires an amount equal to the increase in civil penalties to be transferred to the Fund.

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