Ocean and Coastal Observation System Act of 2005 - Directs the Committee on Ocean Policy, acting through the National Ocean Research Leadership Council, to establish and maintain an integrated system of coastal and ocean observations, data communication and management, analysis, modeling, research, and education designed to provide data and information for the timely detection and prediction of changes occurring in the coastal and ocean environment that impact the Nation's social, economic, and ecological systems.
Requires the Council to establish an interagency program office (Oceanus) responsible for program planning and coordination of the system. Requires the National Oceanic and Atmospheric Administration (NOAA) to be the lead Federal agency for system implementation and operation.
Makes regional associations responsible for the development and operation of regional coastal and ocean observing systems to meet the information needs of user groups in the region while adhering to national standards. Deems certified regional systems to be part of NOAA when carrying out this Act, and employees of such systems acting within the scope of their employment to be Federal Government employees, for purposes of civil liability under specified laws.
Directs the Council to establish programs for research, development, and education for the system.
Authorizes departments and agencies represented on the Council to participate in interagency financing and to share funds appropriated to any Council member.