Smarter Sentencing Act of 2014

(Sec. 5) Directs the U.S. Sentencing Commission to review and amend its guidelines and policy statements applicable to persons convicted of such an offense under the CSA and CSIEA to ensure consistency with this Act and to consider specified factors, including: (1) its mandate to formulate guidelines to minimize the likelihood that the federal prison population will exceed federal prison capacity; (2) fiscal implications of changes; (3) relevant public safety concerns; (4) the intent of Congress that severe sentences for violent, repeat, and serious drug traffickers who present public safety risks remain in place; and (5) the need to reduce and prevent racial disparities in sentencing. Requires the Commission to: (1) promulgate such guidelines, policy statements, or amendments by no later than 120 days after the date of enactment of this Act, and (2) make such conforming amendments to the federal sentencing guidelines as necessary to achieve consistency with other guideline provisions and applicable law.

(Sec. 6) Requires the Attorney General to report to the House and Senate Judiciary Committees on how the reduced expenditures on federal corrections and cost savings resulting from this Act will be used to help reduce overcrowding in the Federal Bureau of Prisons, increase investment in law enforcement and crime prevention, and reduce recidivism.

(Sec. 7) Directs the Attorney General to submit a report listing all criminal statutory offenses and including for each offense: (1) a list of the elements of the offense, (2) the potential criminal penalty for the offense, (3) the number of prosecutions for the offense brought by the Department of Justice (DOJ) in each of the 15 years preceding this Act's enactment, and (4) the mens rea requirement for the offense.

Requires the head of each of specified federal agencies to submit a report listing all criminal regulatory offenses enforceable by such agency and including for each offense: (1) the potential criminal penalty, (2) the number of violations referred to DOJ for prosecution in each of the 15 years preceding this Act's enactment, and (3) the mens rea requirement.

Requires the Attorney General and each agency head to establish a publicly accessible index of each such offense and make the index available and freely accessible on DOJ's and the agency's websites.

(Sec. 8) Amends the federal criminal code to establish a five-year minimum term of imprisonment for aggravated sexual abuse, sexual abuse, sexual abuse of a minor or ward, and sexual abuse-related offenses resulting in death.

(Sec. 9) Provides for enhanced penalties for interstate domestic violence if a victim dies, if the victim is permanently disfigured or suffers a life threatening bodily injury, if serious bodily injury to the victim results, or if the offender uses a dangerous weapon during the offense.

(Sec. 10) Amends the International Emergency Economic Powers Act and the Trading with the Enemy Act to establish a five-year minimum term of imprisonment for certain unlawful acts involving: (1) the provision of defense articles or defense services to a state sponsor of terrorism, a foreign terrorist organization, or person on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury for an activity relating to support for international terrorism or the proliferation of weapons of mass destruction; or (2) the exportation of goods or services to any person in connection with a program of a foreign country or foreign person to develop weapons of mass destruction.

Amends the Arms Export Control Act to establish a five-year minimum term of imprisonment for a criminal violation of such Act that involves the export of defense articles or defense services to: (1) a state sponsor of terrorism, (2) a foreign terrorist organization, (3) a person on the Office of Foreign Assets Control list, or (4) any person in connection with a program of a foreign country or foreign person to develop weapons of mass destruction.

Amends a federal criminal code prohibition against the smuggling of goods from the United States to establish a five-year minimum term of imprisonment if the merchandise, article, or object smuggled: (1) is a defense article and was exported or sent to a state sponsor of terrorism, a foreign terrorist organization, or person on the Office of Foreign Assets Control list; or (2) was exported or sent to any person in connection with a program of a foreign country or foreign person to develop weapons of mass destruction.