National Flood Insurance Program Further Enhanced Borrowing Authority Act of 2005

National Flood Insurance Program Further Enhanced Borrowing Authority Act of 2005 - Amends the National Flood Insurance Act of 1968 to increase from $3.5 billion to $18.5 billion, through FY2008, the total amount which the Director of the Federal Emergency Management Agency (FEMA) may borrow from the Secretary of the Treasury with the President's approval to carry out the flood insurance program. Designates such funds as emergency spending.