State and Local Education Flexibility Act of 2005

State and Local Education Flexibility Act of 2005 - Amends the Elementary and Secondary Education Act of 1965, as amended by the No Child Left Behind Act of 2001, to revise accountability requirements of title I part A assistance for basic programs operated by local educational agencies (LEAs) to improve the academic achievement of the disadvantaged (ESEA I-A).

Provides for State and local flexibility, under specified conditions, to: (1) exclude from adequate yearly progress and academic assessments the performance of certain limited English proficient students; (2) modify academic content and achievement standards in the individual education plans of students with disabilities; (3) develop assessments locally and use multiple assessments; and (4) have alternative qualification requirements for special education teachers and rural teachers.

Directs the Comptroller General to study the amounts LEAs and schools receive from ESEA I-A, and the costs to them in complying with it. Directs the Secretary of Education to arrange with an educational research entity to assess feasibility of measuring individual academic achievement.