Montgomery GI Bill Revitalization Act of 2003 - Amends Federal basic educational assistance provisions (the Montgomery GI Bill) to authorize enhanced educational assistance to a member of the armed forces who, after September 30, 2003: (1) first enters on active duty; (2) reenlists or continues to serve on active duty; (3) serves a continuous period of active duty of four years; or (4) serves and is discharged or released for a service-connected disability, at the convenience of the Government (after serving at least 42 months of such duty), or due to a reduction in force. Limits to 36 months the period for such enhanced assistance. Requires the payment of educational expenses under such program. Provides: (1) a monthly stipend for approved programs of education; and (2) tutorial assistance.Repeals, with respect to such assistance: (1) a required monthly reduction in pay for individuals who do not elect to participate in such assistance program; (2) a provision authorizing individuals to elect not to receive such assistance; (3) the requirement that participants complete the requirements of a high school diploma or equivalency certificate prior to the end of their initial obligated period of service in order to be eligible to receive such assistance; and (4) provisions limiting an individual's opportunity to withdraw an election not to enroll in such assistance program.
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