Cle Elum River Corridor Act of 2004 - Directs the Secretary of Agriculture to transfer certain lands along the Cle Elum River corridor, Washington, to the administrative jurisdiction of the Secretary of the Interior (the Secretary).
Directs the Secretary: (1) to accept certain private lands along that corridor from MountainStar Resort Development, LLC, if offered to the Secretary within 90 days of this Act's enactment, provided that MountainStar conveys acceptable title and that there is no hazardous material on the property to be acquired by the United States; and (2) upon acceptance of title, to convey certain lands to MountainStar.
Requires the exchange to be consummated on an equal value basis, except that the Secretary and MountainStar may agree to equalize the agreed-upon values of the Federal and non-Federal lands involved in the exchange through the inclusion of monetary consideration, provided that any adjustment agreed does not exceed 25 percent of the value of the Federal lands to be conveyed.