1. Short title This Act may be cited as the Local Telecom Expansion Act of 2024 . 2. Small business broadband provider grant program (a) Establishment The Commission shall establish a program to make grants on a competitive basis to States for the deployment of broadband service in underserved areas by small business broadband providers. (b) Eligibility of States The Commission may only award a grant under this section to a State that— (1) meets such eligibility criteria as the Commission may establish; and (2) submits an application at such time, in such form, and with such information and assurances as the Commission may require. (c) Subgrants to small business broadband providers A State that receives a grant under this section shall use the grant funds to make subgrants to small business broadband providers to enable such providers to deploy broadband service in underserved areas in the State. (d) Use of subgrant funds A small business broadband provider that receives a subgrant from a State under subsection (c) shall use the subgrant funds to deploy, in underserved areas in the State, broadband service with— (1) a download speed of at least 25 megabits per second; (2) an upload speed of at least 10 megabits per second