Bus Utility and Safety in School Transportation Opportunity and Purchasing Act of 2004 - Directs the Administrator of the Environmental Protection Agency (EPA) to provide grants, on a competitive basis, to rural local educational agencies (LEAs) to pay the Federal share (75 percent) of costs of purchasing new school buses. Requires the Administrator in providing such grants to give priority to rural LEAs that: (1) are transporting students in a bus manufactured before 1977; (2) have a grossly depleted fleet of school buses; or (3) serve a school that is required by law to provide transportation to students to enable them to transfer to another public school served by the rural LEA.
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