Safe Streets and Highways Act of 2004

Safe Streets and Highways Act of 2004 - Directs the Secretary of Transportation to carry out a highway safety improvement program for the purpose of achieving a significant reduction in traffic fatalities and serious injuries on public roads. Requires a State, to receive funding, to have in effect a program under which the State: (1) develops and implements a strategic highway safety plan that identifies and analyzes highway safety problems and opportunities; (2) produces a program of projects or strategies to reduce identified safety problems; and (3) evaluates the plan regularly to ensure the accuracy of the data and priority of proposed improvements.

Includes among eligible projects any highway safety improvement project on a public road or publicly owned bicycle or pedestrian pathway or trail.

Authorizes a State to use up to 25 percent of funding under this Act to carry out safety projects under other Federal highway provisions as provided in the State strategic highway safety plan.

Sets the Federal cost share of a highway safety improvement project at 90 percent.

Specifies the apportionment formula for the program. Makes at least $200 million available for each fiscal year for the elimination of hazards and the installation of protective devices at railway-highway crossings.

Directs the Secretary of Transportation to conduct a study to examine the effects of increased speed limits enacted by States after 1995.