The proposed bill, titled "An Act establishing MassQuantum," aims to create the Massachusetts Quantum Center, a public entity dedicated to advancing the quantum science industry in the Commonwealth. It introduces Chapter 23O to the General Laws, defining terms such as "certified quantum company" and "quantum science." The center will be governed by a board of commissioners from various sectors, overseeing its operations and ensuring alignment with state economic goals. The bill grants the center powers to certify quantum companies for investment and tax incentive programs, appoint an Executive Director, and establish guidelines for governance, including financial disclosures and confidentiality.

Additionally, the bill establishes the Massachusetts Quantum Investment Program and several funds, including the Massachusetts Quantum Investment Fund and the Small Business Equity Investment Fund, to support research, development, and commercialization in quantum sciences. It outlines the certification process for companies, conditions for revoking certifications, and the ability to solicit private investments. The bill also introduces amendments to retirement options for center employees, allowing participation in an optional retirement program while ensuring compliance with state regulations. Furthermore, it mandates a study by the Massachusetts Technology Collaborative to assess the quantum science industry and amends the process for data centers to qualify for sales and use tax exemptions, ultimately aiming to enhance the state's economic development in this emerging field.