Palestinian Peace Promotion and Ant-Incitement Act - Expresses the sense of Congress that the Palestinian Authority (PA) has not lived up to its agreements with Israel to end incitement and should do more to prepare the Palestinian people for peace with Israel.

Amends the Foreign Assistance Act of 1961 to make funds available for the PA only during a period for which a certification or a recertification is in effect that contains a determination by the President that the PA: (1) no longer engages in a pattern of incitement against the United States or Israel, and (2) is engaged in activities aimed at promoting peace with the Jewish State of Israel.

Requires that: (1) recertifications with related reports be made every six months and transmitted to Congress; and (2) if unable to make such a recertification, the President report the reasons to Congress.