State High Risk Pool Funding Extension Act of 2003 - Amends the Public Health Service Act to modify provisions relating to Federal matching grants for the operation of State high risk health insurance pools. Provides matching grants to States that have established pools that provide premium rates and covered benefits consistent with standards included in the NAIC Model Health Plan for Uninsured Individuals. (Currently, the law specifies other characteristics pools must have for States to receive matching funds, including that premiums charged under a pool are restricted to no more than 150 percent of the premium for applicable standard risk rates.)Amends the formula for appropriating funds such that funds will be allotted to States based on the number of enrollees in qualified high risk pools. (Currently, funds are allotted based upon the number of uninsured individuals in States.)Authorizes appropriations for the matching grants program through FY 2009.
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