Surface Transportation Board Reauthorization Act of 2014

[AI summary unavailable — showing source text] Surface Transportation Board Reauthorization Act of 2014 - Removes the Surface Transportation Board from the Department of Transportation (DOT) to establish it as an independent U.S. agency. Increases Board membership from three to five members. Prescribes requirements for discussions at Board meetings not open to the public. Authorizes the Board to investigate rail carrier and pipeline carrier violations on its own initiative as well as on complaint (as under existing law). Requires proceedings to determine the reasonableness of a rate charged by a carrier to be initiated only upon complaint. Requires the Board to: (1) maintain a simplified and expedited method for determining the reasonableness of challenged rail rates in cases where a full stand-alone cost presentation is too costly, given the value of the case; and (2) maintain procedures to ensure expeditious handling of challenges to the reasonableness of rail rates. Prescribes time limits for Board review of rail rate reasonableness cases. Requires the Board to initiate an ex parte proceeding on whether contract proposals for multiple origin-to-destination movements (rate bundling) have adversely impacted Congress's intent t…