This bill authorizes the Department of Commerce to award economic development grants for public-private partnerships and certain consortiums to carry out specified broadband projects. Such projects shall be to provide, extend, expand, or improve high-speed broadband service through (1) planning, technical assistance, or training; (2) land acquisition or development; or (3) acquisition, construction, or improvement of facilities. When reviewing grant applications, Commerce must take into account the geographic diversity of grant allocation, including consideration of underserved markets. Title to real or personal property acquired or improved with grant funds, or another acceptable possessory interest, must be vested in a public partner or eligible nonprofit organization or association for the useful life of the project. In addition, Commerce may provide credit toward the nonfederal share of a broadband project's cost.