Farm Disaster Emergency Assistance Act of 2003
Summary
Permits producers with qualifying losses in both years to elect to receive payments in either, but not both, of such years.
Makes producers ineligible for crop disaster assistance if they did not: (1) get Federal crop insurance for insurable commodities; and (2) file required paperwork and pay related fees for noninsurable commodities. Sets forth waiver provisions.
Directs the Secretary to transfer specified Commodity Credit Corporation amounts to a certain account established to encourage domestic consumption and foreign exportation of agricultural commodities.