A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for maintaining a household a member of which is a dependent of the taxpayer who has attained age sixty-five.

Amends the Internal Revenue Code to allow an income tax credit to individuals who maintain a household in which a dependent aged 65 or over resides. Sets the amount of such credit at $500 for each aged dependent for the taxable year.