MD SB377

Establishes the BRIDGE Program and Fund in the Department of Commerce to provide grants of $100,000 to $400,000 to qualified business incubators that serve early-stage businesses in Maryland

Qualified incubators must be established on or after January 1, 2012, have dedicated mentoring staff, and be directed by someone trained in operating incubators targeting socially and economically disadvantaged entrepreneurs

Grants may fund incubator planning, capital improvements, real estate, renovations, equipment, and operating expenses (capped at 25% of operating costs after the first year)

At least half of program funds must go to minority business enterprises, with preference given to incubators in HUBZones, Opportunity Zones, or underserved communities, or those managed by or serving disadvantaged individuals

Authorizes $5 million annual appropriations for fiscal years 2027-2032, with the program sunsetting on June 30, 2032; requires annual reporting to the General Assembly by December 31 starting in 2027