Clean Water Infrastructure Financing Act of 2005

Clean Water Infrastructure Financing Act of 2005 - Amends the Federal Water Pollution Control Act to eliminate certain restrictions on capitalization grants to states under the water pollution control revolving fund program and to direct the Administrator of the Environmental Protection Agency (EPA) to make such grants to accomplish the purposes of the Act.

Revises certain requirements for the construction of publicly-owned treatment works under capitalization grant agreements.

Directs the Administrator to assist states in establishing simplified procedures for small water systems (serving populations of 20,000 or less) to obtain assistance under the Act.

Requires state water pollution control 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; (4) financially distressed communities; and (5) construction assistance. Authorizes states to give priority to financially distressed communities in making loans from revolving funds.

Reauthorizes appropriations for FY2006-2010 for the water pollution control revolving fund program.