Railroad Competition Act of 2003

[AI summary unavailable — showing source text] Railroad Competition Act of 2003 - Amends Federal transportation law to specify the primary objectives of U.S. rail transportation policy. Requires submission to arbitration of certain rail rate, service, and other disputes. Prohibits the Surface Transportation Board (STB) from issuing a certificate authorizing construction and operation of railroad lines, or exempt from such certificate requirement any related activity, that involves a transfer of interest in a line of railroad, from a Class I rail carrier to a Class II or III rail carrier, if the activity directly or indirectly would result in a restriction of: (1) the ability of the Class II or Class III rail carrier to interchange traffic with other carriers; or (2) competition between or among rail carriers in the region affected by the activity in a manner or to an extent that would violate Federal antitrust laws. Prescribes a procedure for shipper petition and STB review of any activity alleged to have resulted in a restricition of competition for at least ten years. Changes from discretionary to mandatory the authority of the STB to require: (1) a rail carrier's terminal facilities to be used by another rail carrier subject…