Independent Spent Nuclear Fuel Storage Act of 1994 - Amends the Nuclear Waste Policy Act of 1982 to provide that if the Secretary of Energy does not have a facility available to accept high level radioactive wastes or spent nuclear fuel from certain commercial nuclear facilities by a specified deadline, such facilities may offset the expenses of providing storage of spent fuel generated after that date through credits on certain fee payments until the date of the Secretary's first acceptance at an authorized storage or disposal facility.