Revitalizing Older Communities Through Housing Improvements Act of 2004 - Amends the United States Housing Act of 1937 to authorize, under specified circumstances, a public housing agency to establish an increased voucher program payment standard in situations of: (1) low lease success rate or voucher holder concentration in high-poverty areas; and (2) disability accommodations.
Directs the Secretary of Housing and Urban Development to issue implementing regulations with respect to certain voucher program recommendations made by the Millenial Housing Commission.
Requires each housing assistance voucher contract to provide that it shall be a breach of contract for the owner to fail to pay State or local real estate taxes, fines, or assessments relating to an assisted dwelling unit or the building in which the unit is located.
Establishes the Commission to Revitalize Older Communities Through Housing Improvements which shall study and report on: (1) the public housing community service requirement; and (2) voucher concentration reduction. Terminates the Commission 30 days after report submission.