Energy Tax Policy Act of 2003

[AI summary unavailable — showing source text] Energy Tax Policy Act of 2003 - Amends the Internal Revenue Code to establish credits for the following: (1) residential solar energy property; (2) qualified fuel cell power plants; (3) energy efficiency improvements to existing homes; (4) construction of new energy efficient home; (5) combined heat and power system property; (6) production of low sulphur diesel fuel; and (7) producing oil and gas from marginal wells. Repeals: (1) the 4.3-cent per gallon diesel fuel excise taxes on railroads and inland waterway transportation; (2) phaseouts for qualified electric vehicle credit and the deduction for clean fuel-vehicles; and (3) for two years, the alternative minimum tax preference for intangible drilling costs for certain taxpayers and the minimum tax limitation on the oil recovery credit. Treats: (1) natural gas gathering lines as 7-year property; (2) natural gas distribution lines as 15-year property; and (3) electric transmission property treated as 15-year property. Extends and modifies the credits for: (1) electricity produced from renewable resources; (2) producing fuel from a nonconventional source. Provides for: (1) reduced motor fuel excise tax on certain mixtures of diese…