Emergency Agricultural Disaster Assistance Act of 2005

Emergency Agricultural Disaster Assistance Act of 2005 - Directs the Secretary of Agriculture to provide emergency financial assistance to eligible agricultural producers who have incurred qualifying 2005 crop losses due to weather or related conditions (including crop disease, insects, and delayed harvest).

Directs the Secretary to provide: (1) payments to livestock producers who have incurred 2005 losses in an emergency-designated county, with set-asides for the American Indian livestock program; (2) livestock indemnity payments to producers who have incurred 2005 livestock disaster losses, including losses due to hurricanes, floods, and anthrax; (3) additional assistance for the emergency conservation and the emergency watershed protection programs; (4) compensation for certain owners of flooded crop and grazing land in North Dakota; and (5) supplemental loss payments under a specified rate to producers who received crop year 2005 commodity assistance.

Amends the Small Business Act to: (1) provide drought disaster relief authority for farm-related and non-farm-related small businesses; and (2) authorize FY2005-FY2008 drought disaster loans for non-farm-related small businesses.

Directs the Secretary to use Commodity Credit Corporation (CCC) funds for: (1) grants for agricultural promotion; (2) state-specified grants; and (3) additional grants for agricultural promotion, including food bank and nutrition program assistance, to Alabama, Florida, Louisiana, Mississippi, Tennessee, and any other state that is housing evacuees or suffering damage from Hurricane Katrina or a related condition.

Directs the Secretary to extend the settlement date of certain marketing assistance loans.

Transfers Treasury funds to the Secretary of Commerce for assistance to New England fisheries suffering from the red tide outbreak.