State administration of federal BEAD program.

Specifies that the existing Indiana statute concerning the awarding of grants by the office of community and rural affairs for certain eligible broadband projects does not apply to subgrants awarded by the Indiana broadband office (office) under the federal Broadband Equity, Access, and Deployment (BEAD) Program (program). Establishes a new Indiana Code chapter governing the administration of the program by the office. Requires the office to administer the program in Indiana in compliance with all mandatory provisions set forth in: (1) the federal Infrastructure Investment and Jobs Act (Act); and (2) the BEAD Notice of Funding Opportunity (BEAD NOFO); with respect to the program. Provides that before awarding a subgrant to an eligible broadband service provider during any round of funding under the program, the office shall submit to the budget committee for review the proposed amount and terms of the subgrant. Provides that in awarding subgrants for the deployment of a broadband network using program funds, the office may not exclude cooperatives, nonprofit organizations, public-private partnerships, private companies, public or private utilities, public utility districts, or local governments from eligibility for those funds, as set forth in the Act. Provides that the final proposal submitted by the office to the National Telecommunications Information Administration (NTIA) with respect to the program must include the specifications for the required low cost broadband service option that are set forth in the office's initial proposal, as submitted to and approved by NTIA.