Surface Transportation Board Reform Act of 2003

Surface Transportation Board Reform Act of 2003 - Declares as primary objectives for U.S. rail transportation policy: (1) ensuring effective competition among rail carriers at origin and destination; (2) maintaining reasonable rates in the absence of such competition; (3) maintaining consistent and efficient rail transportation service to shippers, including the timely provision of railcars requested by them; and (4) ensuring that smaller carload and intermodal shippers are not precluded from assessing rail systems due to volume requirements.

Requires a rail carrier, upon a shipper's request, to establish a rail transportation rate. Requires the Surface Transportation Board, if a shipper challenges the reasonableness of such a rate, to then determine its reasonableness without regard to specified factors.

Sets forth certain requirements with respect to: (1) acceptance of requests for grain service by rail carriers; and (2) the Board's mandate to require terminal facilities owned by a rail carrier providing rail transportation to be used by another rail carrier.

Requires the Board in a proceeding involving the approval of the merger or control of at least two Class I railroads to consider, among other things, at least the: (1) safety and environmental effects of the proposed transaction; and (2) the effect of such transaction on rail passenger transportation.

Sets forth certain requirements with respect to: (1) the Board ensuring that commuter authorities are able to provide commuter rail passenger transportation that meets the commuter rail passenger transportation needs of the United States; and (2) water carriers making their tariffs containing the rates established for their transportation or service available electronically to any person.