Clean Water Infrastructure Financing Act of 2005

Clean Water Infrastructure Financing Act of 2005 - Amends the Federal Water Pollution Control Act to remove certain requirements for States with respect to construction of treatment works under capitalization grant agreements.

Requires architectural and engineering contracts to be awarded consistent with procedures under the Federal Property and Administrative Services Act of 1949 or an equivalent State qualifications-based requirement.

Directs the Administrator of the Environmental Protection Agency to assist States in establishing simplified procedures for small water systems to obtain assistance under the Act.

Requires revolving funds to be used only for providing assistance for activities which have as a principal benefit the improvement or protection of water quality of navigable waters. Makes revisions concerning uses of funds for: (1) innovative technologies; (2) administrative expenses; (3) small system technical, planning, and management assistance; and (4) financially distressed communities.

Revises requirements related to consistency with plans and eligibility of treatment works not considered publicly owned.

Requires States to make grants to financially distressed communities in any fiscal year in which the Administrator has more than $1.4 billion available for obligation and allows a State to give priority to such communities in making loans.

Directs the Administrator to provide technical and financial assistance to owners and operators of publicly-owned treatment works for: (1) inventorying critical treatment works assets; (2) evaluating the performance and condition of these assets; and (3) developing a plan for maintaining and replacing treatment works.

Reauthorizes appropriations for FY2006-2010 for the revolving fund program.