Reinstate draft bill

Universal National Service Act of 2003 - Declares that it is the obligation of every U.S. citizen, and every other person residing in the United States, between the ages of 18 and 26 to perform a two-year period of national service, unless exempted, either as a member of an active or reserve component of the armed forces or in a civilian capacity that promotes national defense. Requires induction into national service by the President. Sets forth provisions governing: (1) induction deferments, postponements, and exemptions, including exemption of a conscientious objector from military service that includes combatant training; and (2) discharge following national service.

Amends the Military Selective Service Act to authorize the military registration of females.