1. Short title This Act may be cited as the Rural Forest Markets Act of 2023 . 2. Rural Forest Market Investment Program (a) Definitions In this section: (1) Program The term program means the Rural Forest Market Investment Program established under subsection (b)(1). (2) Rural The term rural has the meaning given the term in section 343(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1991(a) ). (3) Secretary The term Secretary means the Secretary of Agriculture. (4) Voluntary environmental credit market The term voluntary environmental credit market means a voluntary market through which environmental credits may be bought or sold. (b) Establishment of program (1) In general The Secretary shall establish a program, to be known as the Rural Forest Market Investment Program , to guarantee environmental impact bonds, loans, or other investment vehicles, as determined by the Secretary, issued for the sole purpose of financing eligible projects described in subsection (c), to enable rural private forest landowners to participate in voluntary environmental credit markets. (2) Administration (A) Loan guarantees The Secretary shall make available and administer guarantees on environmental impact bonds, loans, or other investment vehicles, as determined by the Secretary, through the facilities and authorities of the Under Secretary for Rural Development. (B) Forestry related matters (i) In general The Secretary shall carry out through the facilities and authorities of the Under Secretary for Natural Resources and Environment the requirements and administration under this section of matters relating to forests, forestry, tree planting activities, forest product markets, the timber supply, appropriate activities to develop and carry out an eligible project, and activities to facilitate the participation of an eligible project or rural private forest landowner in voluntary environmental credit markets, and as otherwise provided in this section, as determined appropriate by the Secretary. (ii) Collaboration