Northern Arizona Land Exchange and Verde River Basin Partnership Act of 2005

Grants to the Yavapai Ranch unrestricted and non-exclusive easements that run with and benefit the land transferred to the Ranch.

Allows the cities of Flagstaff, Williams, and Camp Verde and certain summer camps in Arizona to enter into agreements with Yavapai Ranch for the conveyance of parts or all of the acquired parcels of Federal and located near such cities and camps.

(Sec. 103) Reserves for the Yavapai Ranch water rights and perpetual easements for not more than three existing wells and related equipment on the land it is transferring to Federal control, with certain water rights from each existing or replacement well to be reserved for the United States.

(Sec. 104) Provides for the establishment of conservation easements on certain of the Federal land transferred to the Yavapai Ranch to conserve water in the Verde Valley, Arizona, and to minimize adverse impacts from future development of the Camp Verde General Crook parcel on future and current holders of water rights and the Verde River and National Forest System lands retained by the United States. Requires any terms of conveyance for such parcel to include an agreement on the amount of water available for use on such land, as determined by the Ranch, subject to a specified limit. (Sec. 105) Provides that land acquired by the United States under this Act shall become part of the Prescott National Forest in accordance with this title and the laws applicable to the National Forest System. Sets forth certain rules for such land pertaining to: (1) grazing; and (2) timber harvesting. (Sec. 106) Revokes any public orders withdrawing any of the Federal land from appropriation or disposal as necessary to permit disposal of such land. Withdraws the Federal land from all forms of entry and appropriation under the public land laws; location, entry, and patent under the mining laws; and operation of the mineral leasing and geothermal leasing laws, until the date of the exchange. (Sec. 107) Directs the Secretary to convey certain land in Coconino County, Arizona, to a person representing the majority of landowners with encroachments on the lot in exchange for the payment of a designated sum plus certain other costs. Title II: Verde River Basin Partnership - (Sec. 203) Authorizes the Secretary of Agriculture to participate in establishing a Verde River Basin Partnership, with members representing Federal, State, and local governments, and other entities with responsibilities and expertise in water to cooperate in the implementation of science-based policies, projects, and management for the Basin. Authorizes appropriations to the Secretaries of Agriculture and the Interior of amounts necessary to carry out activities of the Partnership for FY 2006 through 2010.

(Sec. 204) Sets forth requirements for a Partnership plan, studies, water budget analysis, preliminary report and recommendations. Requires a final report from the Partnership within four years of enactment.

(Sec. 206) Directs the Secretaries to enter into a memorandum of understanding authorizing the U.S. Geological Survey to access Forest Service land to carry out this title.