An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in tax credit and tax benefit administration, further providing for definitions; and providing for Keystone Literacy Investment Tax Credit.

This bill creates the Keystone Literacy Investment Tax Credit, a program designed to fund evidence-based reading instruction in Pennsylvania public schools. It allows insurance companies and their holding companies to purchase tax credits that can be applied against their insurance premiums tax liability. The Department of Community and Economic Development will sell up to $150 million in these credits, with the program beginning in 2028 and credits becoming usable in 2029. The legislation also establishes an annual cap of $50 million on the total amount of credits that can be used against tax liability.