Assuring Honesty and Accountability Act of 2003

[AI summary unavailable — showing source text] Assuring Honesty and Accountability Act of 2003 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to extend through FY 2008 the discretionary spending limits (spending caps) for defense and nondefense categories in new budget authority and outlays. Retains (eliminates the expiration of) pay-as-you-go. Retains (eliminates the expiration of) specified budget enforcement mechanisms. Amends the Congressional Budget Act of 1974 concerning legislation which: (1) evades specified budget enforcement mechanisms; (2) provides direct spending (to be included in the Congressional Budget Office (CBO) analysis (scoring); and (3) is unreported by committee (for purposes of budget point of order rules). Limits the adjustment required to the discretionary spending limits in new budget authority for FY 2004 when new budget authority for operations of the Department of Homeland Security or grants to States and localities for homeland security is enacted. Requires the Secretary of Homeland Security to conduct a homeland security needs assessment. Requires reports on legislation which provide new budget, spending, or credit authority or otherwise provide an increase or decrease in …