Local and Independent Television Protection Act of 2017 This bill requires the Federal Communications Commission to amend the National Television Multiple Ownership Rule to eliminate the UHF discount by increasing from 50% to 100% the number of attributed television households in an ultrahigh frequency (UHF) television station's designated market area. (The number of attributed television households in a UHF television station's designated area is used to calculate the total number of television households an entity with a cognizable interest in more than one television station reaches nationally. A broadcast license cannot be granted or transferred if such license would result in the total number of television households reached nationally by an entity exceeds 39%.) This change in the National Television Multiple Ownership Rule does not apply to an entity that had a national television audience exceeding 39% prior to September 26, 2013, if such an entity exceeds the limit only because of the increased number of television households attributed to the entity's UHF television stations.