Advancing Equity Through the Arts and Humanities Act of 2023 This bill establishes an Advancing Equity Through the Arts and Humanities Program to increase engagement with public and nonprofit entities (including faith-based and community-based organizations that serve and are led by people of color) in supporting arts and humanities projects that directly combat systemic racism through the arts and humanities. The National Endowment for the Arts and the National Endowment for the Humanities shall carry out this program. The bill also provides for a competitive grant program for the creation and expansion of programs to support public and nonprofit arts and humanities organizations that directly combat systemic racism through the arts and humanities.