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; in research and development tax credit, further providing for limitation on credits; and providing for Angel Investment Tax Credit.

SB 191 amends Pennsylvania's 1971 Tax Reform Code to adjust tax credit rules and create a new Angel Investment Tax Credit. It increases the annual cap on tax credits from $60 million to $100 million, reserving $20 million specifically for small businesses. The bill establishes an Angel Investment Tax Credit program, allowing accredited investors to claim a 25% credit on investments in qualifying Pennsylvania startups that meet criteria like having fewer than 100 employees, operating in the state for under five years, and developing intellectual property. This directly affects investors seeking tax benefits and qualifying small businesses aiming to secure early-stage funding.