Task Force on Elder Abuse Act of 1985 - Establishes a Task Force on Elder Abuse to assess the nature and extent of public and private efforts needed to report, monitor, and redress elder abuse. Sets forth provisions regarding the membership, pay, and meetings of the Task Force. Requires the Secretary of Health and Human Services to designate a Task Force Chairman responsible for appointing an Executive Director and staff members for the Task Force. Enumerates the powers of the Task Force. Directs the Task Force to transmit an interim report and, within nine months of its first meeting, a final report to the President and the Congress. Requires executive departments and agencies affected by the final report to submit recommendations to the President regarding the implementation of that report. Terminates the Task Force 30 days after its final report. Authorizes appropriations for FY 1987.