Safe Streets and Highways Act of 2005

Safe Streets and Highways Act of 2005 - Directs the Secretary of Transportation to carry out a highway safety improvement program to achieve a significant reduction in traffic fatalities and serious injuries on public roads. Requires a State, to obligate Federal funds apportioned to it, to have in effect a highway safety improvement program under which the State: (1) develops and implements a strategic highway safety plan that identifies and analyzes highway safety problems and opportunities; (2) produces a program of projects or strategies to reduce identified safety problems; (3) evaluates the plan regularly to ensure the accuracy of the data and priority of proposed improvements; and (4) submits to the Secretary an annual report describing not less than 25 percent of the locations exhibiting the most severe safety needs.

Includes among eligible projects any highway safety improvement project on a public road or publicly owned bicycle or pedestrian pathway or trail.

Authorizes a State to use up to 25 percent of funding under this Act to carry out safety projects under other Federal highway provisions as provided in the State strategic highway safety plan.

Requires a State to allocate a certain amount of funds for bicycle and pedestrian improvements based on a specified formula. Authorizes appropriations to States to improve traffic signs and pavement markings for older drivers and pedestrians.

Specifies the apportionment formula for the program. Makes at least $200 million available for each fiscal year for the elimination of hazards and the installation of protective devices at railway-highway crossings.