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) Covered entity The term covered entity means an eligible entity for which a bond, loan, or other investment vehicle is guaranteed under the program. (2) Eligible entity The term eligible entity means a private entity, State forestry agency, or publicly supported, charitable nonprofit organization described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of that Code engaged in or seeking to engage in the aggregation of sustainable forestry practices implemented by rural private forest landowners to facilitate the sale of environmental credits in voluntary environmental credit markets. (3) Program The term program means the Rural Forest Market Investment Program established under subsection (b)(1). (4) 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) ). (5) Secretary The term Secretary means the Secretary of Agriculture. (6) 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 and covered entities 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