Louisiana Katrina Recovery Act of 2005 - Establishes within the Executive Office of the President the Office of the Louisiana Katrina Recovery Administrator.
Specifies the authorities and functions of the Louisiana Katrina Recovery Administrator, including to: (1) provide leadership in developing a plan for the recovery of areas in Louisiana adversely impacted by Hurricane Katrina and ensuring accountability and transparency of recovery efforts; (2) have management and oversight authority of all agencies in all federal activities and the use of federal resources relating to the recovery from Hurricane Katrina in Louisiana; (3) ensure such activities and resources are performed and used efficiently and effectively; and (4) coordinate the efforts of the federal government and the state and local governments of Louisiana in the recovery.
Establishes the Louisiana Katrina Interagency Working Group. Designates the Administrator as the Chairperson of the Group.
Establishes the Louisiana Katrina Advisory Board to provide advice and recommendations to the Administrator.
Amends the Emergency Supplemental Appropriations Act for Defense and for the Reconstruction of Iraq and Afghanistan, 2004 to re-designate the Office of the Special Inspector General for Iraq Reconstruction as the "Office of the Special Inspector General for Relief and Reconstruction" and includes as duties auditing and investigating Hurricane Katrina recovery activities and expenses. Requires reports.