1. Short title This Act may be cited as the Rural Internet Improvement Act of 2023 . 2. Streamlining broadband authorities (a) In general Section 601 of the Rural Electrification Act of 1936 ( 7 U.S.C. 950bb ) is amended— (1) by striking the section heading and inserting ReConnect Program ; (2) in subsection (b)— (A) by redesignating paragraph (3) as paragraph (4); and (B) by inserting after paragraph (2) the following: (3) ReConnect Program The term ReConnect Program means the program established under this section. ; (3) in subsection (c)— (A) in paragraph (2)(A)— (i) in clause (i)— (I) in subclause (I), by striking 10-Mbps and inserting 25-Mbps ; and (II) in subclause (II), by striking 1-Mbps and inserting 3-Mbps ; and (ii) by striking clause (iv) and inserting the following: (iv) give priority to applications from applicants that have demonstrated the technical and financial experience required to construct and operate broadband networks. ; and (B) by adding at the end the following: (5) Applications The Secretary shall establish an application process for grants, loans, and loan guarantees under this section that— (A) reduces the amount of data required to apply by limiting the required data to only— (i) the entity applying, excluding any parent or affiliate entity that is not a party to the application, to the greatest extent practicable; and (ii) the geographic area affected by the application, if a parent or affiliate is not a party to the application; (B) simplifies the data interfaces for submission to the greatest extent practicable; and (C) allows all applicants, regardless of whether an applicant is publicly traded, to rely on a bond rating of at least investment grade (when bond ratings are available) in place of financial documentation. (6) Use of broadband map In making any determination to award a loan, loan guarantee, or grant under this section, the Secretary shall utilize the map created by the Federal Communications Commission under section 802(c)(1)(A) of the Communications Act of 1934.