Orderly and Timely Interstate Placement of Foster Children Act of 2004

Orderly and Timely Interstate Placement of Foster Children Act of 2004 - Amends the Social Security Act to require each State to: (1) have in effect procedures for orderly and timely placement of children, in foster care or for adoption, across State lines; and (2) complete home studies for such purpose within 60 days of another State's request.

Directs the Secretary of Health and Human Services to make incentive grants to States that complete timely interstate home studies.

Revises requirements for checking of child abuse registries to eliminate an opt-out provision.

Allows access to the Federal parent locator service to courts in foster care or adoptive placement cases.

Provides for consideration of out-of-state placements in permanency hearings, case plans, and case reviews. Revises provisions relating to caseworker visits, health and education records, notice of proceedings, and use of interjurisdictional resources.

Directs the Comptroller General to study State performance of background checks for child placements.

Expresses the sense of Congress that States should: (1) revise the Interstate Compact on the Placement of Children; and (2) use private agencies to conduct home studies and give full faith and credit to other States' home study reports.