National Small Business Regulatory Assistance Act of 2005

National Small Business Regulatory Assistance Act of 2005 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish a program to provide regulatory compliance assistance to small businesses through selected Small Business Development Centers (Centers), the Association for Small Business Development Centers (Association), and Federal compliance partnership programs. Requires the Administrator to enter into arrangements with selected Centers to provide: (1) access to regulatory information and resources; (2) training and education activities; (3) confidential counseling to owners and operators of small businesses regarding compliance with Federal and State regulations; (4) technical assistance; (5) referrals to providers of compliance assistance; and (6) access to the Internet and training on Internet use. Requires quarterly reports from each selected Center to the Administrator on assistance provided.

Directs the Administrator to: (1) act as the repository of and clearinghouse for data and information submitted by Centers; (2) report annually to the President and the congressional small business committees on assistance provided; and (3) establish an Internet website that provides access to websites containing industry-specific regulatory compliance information. Directs the Chief Counsel for Advocacy of the SBA to: (1) review the Administrator's list of small business regulations; (2) identify those regulations having a significant impact on small businesses; (3) request the federal review of any such regulations; and (4) publish an annual report of such regulations and their disposition.

Requires the Administrator, giving substantial weight to the Association's recommendations, to select the Centers programs of two States from each of ten groups of States for participation in the program. Authorizes the Administrator to make additional selections after three years, with a preference for programs that have a plan for consulting with Federal and State agencies to ensure that assistance provided under this Act is not duplicated by any other Federal or State program. Sets forth the formula for determining program grant amounts. Provides a minimum grant amount of $200,000. Directs the Comptroller General to evaluate the grant program and report evaluation results to the Administrator and the small business committees. Authorizes appropriations.

Requires the Administrator to promulgate final regulations to carry out this Act, after providing notice and an opportunity for comment and after consulting with the Association.