National Strategy for Homeland Security Act of 2004

National Strategy for Homeland Security Act of 2004 - Directs the Secretary of Homeland Security, under the direction of the President, to develop a National Strategy for Homeland Security for detection, prevention, protection, response, and recovery with regard to terrorist threats to the United States.

Requires the Secretary to: (1) submit the Strategy to Congress by December 1st of each year in which a President is inaugurated and to submit an updated version two years thereafter; and (2) provide, in conjunction with the President's budget request, an annual assessment of progress on implementing the Strategy.

Sets forth contents of the Strategy, including: (1) threat, vulnerability, and risk assessment and analysis; (2) a statement of desired end-states; (3) an assessment of necessary resources and investments; (4) a delineation of organizational roles and responsibilities across the many entities involved; and (5) an explanation of the relationship between the Strategy and other Federal strategies addressing terrorist threats.

Directs the Secretary to establish a nonpartisan, independent Homeland Security Commission to conduct an alternative assessment of the optimal policies and programs to improve homeland security against terrorist threats, including an estimate of the funding required.