Creates the Low-Income Broadband Assistance Program Act. Requires the Department of Commerce and Economic Opportunity to establish a Low-Income Broadband Assistance Program to ensure the availability and affordability of broadband service to low-income families. Provides that the Department shall coordinate with local administrative agencies identified by the Department to determine eligibility for the program, provided that eligible income shall be no more than 150% of the federal poverty level. Provides that families whose annual household income is at or below 135% of the federal poverty level shall be eligible for free broadband service. Provides that a credit of at least $9.95 a month for broadband services shall be payable monthly to: (i) families whose annual household income is greater than 135% but less than 150% of the federal poverty level; and (ii) families that include at least one adult person or dependent child who qualifies for or participates in the Supplemental Nutrition Assistance Program, the Supplemental Security Income program, Veterans Pension and Survivors Benefits Programs, or other specified assistance programs. Provides that the $9.95 broadband service credit may be adjusted according to family size. Provides that families who participate in the federal Lifeline program or any other State Internet service subsidy program shall not be eligible to participate in the Low-Income Broadband Assistance Program. Grants rulemaking powers to the Department of Commerce and Economic Opportunity.