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Smarter Sentencing Act of 2013 - Amends the federal criminal code to direct the court to impose a sentence for specified controlled substance offenses without regard to any statutory minimum sentence if the court finds that the criminal history category for the defendant is not higher than category two (under current law, that the defendant does not have more than one criminal history point).

Authorizes a court that imposed a sentence for a crack cocaine possession or trafficking offense committed before August 3, 2010, on motion of the defendant, the Director of the Bureau of Prisons, the attorney for the government, or the court, to impose a reduced sentence as if provisions of the Fair Sentencing Act of 2010 were in effect at the time such offense was committed.

Amends the Controlled Substances Act (CSA) and the Controlled Substances Import and Export Act (CSIEA) to reduce mandatory minimum sentences for manufacturing, distributing, dispensing, possessing, importing, or exporting specified controlled substances.

Directs the Commission to review and amend its guidelines and policy statements applicable to persons convicted of such an offense under the CSA and CSIEA to ensure consistency with this Act and to consider specified factors, including: (1) its mandate to formulate guidelines to minimize the likelihood that the federal prison population will exceed federal prison capacity, (2) fiscal implications of changes, (3) relevant public safety concerns, (4) the intent of Congress that penalties for violent and serious drug traffickers who present public safety risks remain appropriately severe, and (5) the need to reduce and prevent racial disparities in sentencing.

Requires the Attorney General to report on how the reduced expenditures on federal corrections and cost savings resulting from this Act will be used to help reduce overcrowding, increase investment in law enforcement and crime prevention, and reduce recidivism.