National Women's Business Council Independence Preservation Act of 2003 - Amends the Women's Business Ownership Act of 1988 to require the Administrator of the Small Business Administration, when filling vacancies on the National Women's Business Council, to ensure that there are an equal number of Council members from each of the two major political parties.

Mandates that if a Council vacancy is not filled within 30 days, or there exists for more than 30 days an imbalance of party-affiliated Council members, the Administrator shall report to the congressional small business committees on why the deadline was not met and an estimated date on which any vacancies will be filled.