Methamphetamine Reduction Act of 2005 - Requires ephedrine alkaloids, including ephedrine and pseudoephedrine, to be listed in schedule V (drugs or other substances having a low potential for abuse, that have a currently accepted medical use in treatment in the United States, abuse of which may lead to limited physical or psychological dependence) of the Controlled Substances Act. Excepts ephedrine alkaloid when contained in a drug that: (1) is marketed or distributed lawfully in the United States under the Federal Food, Drug, and Cosmetic Act; and (2) cannot be easily used in the illicit production of methamphetamine. Provides that an ephedrine alkaloid when so contained shall be considered a listed chemical.
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