Agricultural Assistance Act of 2005 - Directs the Secretary of Agriculture to make payments to producers on a farm eligible for 2005 direct payments for a covered commodity if: (1) the farm is located in a disaster county; or (2) the producers on the farm have incurred qualifying 2005 crop losses due to damaging weather or related conditions.
Requires as a condition for such assistance that producers of: (1) a covered commodity and other insurable commodities for each of the next two crop years obtain at least federal crop catastrophic risk protection, and in the event of contract violation repay any assistance received; and (2) eligible noninsurable commodities for each of the next two crop or calendar years file the required paperwork, and pay the administrative fee by the state filing deadline, and in the event of contract violation repay any assistance received.
Directs the Secretary to: (1) make emergency financial assistance to producers (crop, timber, fisheries, and livestock producers) who have incurred losses in a disaster-designated county; (2) use Commodity Credit Corporation (CCC) funds to carry out the 2002 Livestock Compensation Program for livestock producers in a disaster county, and for catfish producers; (3) transfer CCC funds for emergency surplus removal of agricultural commodities; (4) use CCC funds for assistance to fruit and vegetable producers, and for producers and first handlers of the 2005 cottonseed crop; and (5) make CCC commodity or payment assistance to certain loan-eligible first processors in a disaster-designated state to partially compensate producers and first processors for crop and other losses related to such natural disaster.