Unemployment Benefits Extension Act - Amends the Temporary Extended Unemployment Compensation Act of 2002 (TEUCA) to: (1) extend the TEUC program; (2) provide for additional weeks of TEUC benefits; (3) revise unemployment rate triggers for TEUC benefit periods; and (4) provide for regular unemployment compensation for certain individuals based on part-time work or an alternative base period.Extends the TEUC program through weeks of unemployment ending before December 28, 2003. Provides a phaseout period for individual payments up to weeks beginning after July 31, 2004.Increases to 26 weeks an eligible individual's TEUC payments. Provides for an additional seven weeks of payments, for a total of 33 weeks, for individuals in high-unemployment States (TEUC-X). (Current law provides 13 weeks of regular TEUC payments, with an additional 13 and total 26 in TEUC-X States.)Revises requirements for determining TEUC-X States, using certain triggers based on insured unemployment rates and on total unemployment rates.Establishes a program of payments to States to provide regular unemployment compensation benefits for individuals who otherwise would be ineligible because: (1) the base period does not count wages earned in the most recently completed calendar quarter; or (2) the individuals seek or are available for less than full-time work.
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