Military Readiness Enhancement Act of 2005 - Repeals current Department of Defense (DOD) policy concerning homosexuality in the Armed Forces.
Prohibits the Secretary of Defense, and the Secretary of Homeland Security with respect to the Coast Guard when it is not operating as a service in the Navy, from discriminating on the basis of sexual orientation against any member of the Armed Forces or any person seeking to become a member. Authorizes the re-accession into the Armed Forces of otherwise qualified individuals previously separated for homosexuality, bisexuality, or homosexual conduct.
Requires such Secretaries to ensure that regulations governing the personal conduct of members of the Armed Forces are written and enforced without regard to sexual orientation.