Involuntary Bankruptcy Improvement Act of 2003 - Amends Federal bankruptcy law to direct the court, upon motion of a debtor that is an individual, to: (1) dismiss an involuntary bankruptcy petition containing a materially false, fictitious, or fraudulent statement; and (2) expunge from court records all records and references pertaining to such petition.
Authorizes the court, following such dismissal, to enter an order prohibiting all consumer reporting agencies from making any consumer report containing information regarding either the petition itself, or the case commenced by the filing of such petition.