Arapaho and Roosevelt National Forests Land Exchange Act of 2004

Arapaho and Roosevelt National Forests Land Exchange Act of 2004 - Provides that an exchange of certain land located near the community of Evergreen in Park County, Colorado, and certain land located near Argentine Pass in Clear Creek and Summit Counties, Colorado, (the non-Federal land) shall proceed if, not later than 30 days after the enactment of this Act, the City of Golden, Colorado (the City), offers to convey title acceptable to the Secretary of Agriculture to those lands.

Subjects the conveyance of the non-Federal land located near Argentine Pass to the continuing right of the City to permanently enter on, use, and occupy so much of the surface and subsurface land necessary to access, maintain, modify, or otherwise use the Vidler Tunnel.

States that the exercise of that right shall not require the City to secure any permit or other advance approval from the United States, except to the extent that the City would have been required had the non-Federal land not been conveyed to the Secretary and remained in City ownership. Withdraws such land, upon acquisition by the Secretary, permanently from all forms of entry and appropriation under the public land laws (including the mining and mineral leasing laws) and the Geothermal Steam Act of 1970.

Directs the Secretary, upon receipt of title to the non-Federal land that is acceptable, to simultaneously convey to the City all right, title, and interest of the United States in and to certain Federal land identified as the "Empire Federal Lands." Requires the values of such Federal land to be determined through specified appraisals.

Considers the conveyance of the land located near Argentine Pass to be a donation for all purposes of law.

Provides that: (1) if the final appraised value of the non-Federal land exceeds that of the Federal land, the values may be equalized by reducing the acreage of the non-Federal land and/or by making a cash equalization payment to the City; (2) if the final appraised value of the Federal land exceeds that of the non-Federal land, the Secretary shall conduct an appraisal for the non-Federal land and use the value to equalize such lands' values; or (3) if the Secretary declines to accept the non-Federal land located near Argentine Pass or if the value of the Federal land exceeds the value of all of the non-Federal land, the City may make a cash equalization payment to the Secretary.

Requires the City to pay for any necessary land surveys and the costs of the appraisals.

Expresses the intent of Congress that the land exchange directed by this Act be completed not later than 180 days after this Act's enactment.

Instructs the Secretary, pending completion of the land exchange, not later than 45 days after enactment, subject to applicable law, to authorize the City to construct approximately 140 feet of water pipeline on or near the existing course of the Lindstrom ditch through the Federal land.

States that if such land exchange is not completed the Secretary shall sell such Federal land to the City at the final appraisal value of such land.

Applies the Sisk Act to any cash equalization payment received by the United States under this Act.

Requires land acquired by the United States under the land exchange to become part of the Arapaho and Roosevelt National Forests.

Modifies the exterior boundary of the Forests to incorporate the non-Federal land and an additional 80 acres identified as the "Cub Creek". Deems the boundaries of such Forests to be as January 1, 1965, for purposes of certain provisions of the Land and Water Conservation Fund.

Revokes any public orders withdrawing any of the Federal land from appropriation or disposal under the public land laws to permit the disposal of such land.

Declares that, on enactment, if not already withdrawn or segregated from entry and appropriation under such laws (including the mining and mineral leasing laws) and the Geothermal Steam Act of 1970, the Federal land is withdrawn until it is conveyed to the City.