(Measure passed Senate, amended) Independent Safety Board Act Amendments of 1986 - Amends the Independent Safety Board Act of 1974 to authorize appropriations for FY 1987 through 1989. Authorizes appropriations for the establishment of an emergency fund for use by the National Transportation Safety Board (the Board) for accident investigations. Repeals the requirement that the National Transportation Safety Board publish notice of the issuance and availability of its accident reports in the Federal Register. Empowers the Board to conduct schools for the training of Board employees, and to authorize attendance at such schools by U.S. and foreign government personnel as well as transportation industry personnel. Authorizes the Board to require payment from governmental entities for the reasonable cost of goods and services supplied, and to apply the funds received to the Board's appropriations. Authorizes the Board to require reports from persons involved in accidents and incidents involving civilian public aircraft. Requires the Secretary of Transportation and the Administrator of the Federal Aviation Administration to present an interim and a final report to the Congress concerning the increasing costs of general liability insurance coverage for United States public use airport sponsors. Requires the Administrator to contract with a nonprofit foundation for the establishment of a clearinghouse to disseminate general liability insurance information for public use airports.