Spectrum Commons and Digital Dividends Act of 2003

Spectrum Commons and Digital Dividends Act of 2003 - Amends the Communications Act of 1934 to establish in the Treasury the Digital Dividends Trust Fund to be used for: (1) human capital telecommunications investments; and (2) broadband infrastructure investments for public access and rural technological development.

Amends the National Telecommunications and Information Administration Organization Act to make funds from such Fund available to the Secretary of Commerce to carry out a: (1) Human Capital Telecommunications Investment Program; and (2) Public Broadband Infrastructure Investments Program. Earmarks a specified amount of funds for the latter program for converting public broadcasting facilities to digital technology.

Directs the Secretary to prepare, make publicly available, and submit to the President, Congress, and the Federal Communications Commission (FCC) a report that: (1) designates two specified bands of frequencies for reallocation to the public for unlicensed use; (2) designates bands of frequencies for reallocation for the provision of advanced wireless services; and (3) establishes a plan for the relocation or modification of Federal stations currently occupying frequencies located at 1710-1850 megahertz.

Requires the FCC to allocate some of the 1710-1850 megahertz frequencies for wireless services.

Authorizes the relocation of the operations of Federal entities from the frequencies reallocated to wireless services. Establishes a Spectrum Relocation Trust Fund for relocation costs.

Requires a division of the proceeds from spectrum auctions for wireless services between the Relocated Federal Entities Trust Fund and the Digital Dividends Trust Fund.