A bill to amend title XVI of the Social Security Act to provide that the existing requirement for deeming a parent's income and resources to his or her children under age 18 shall not apply in the case of certain severely disabled children, and for other purposes.

[AI summary unavailable — showing source text] Amends title XVI (Supplemental Security Income) (SSI) of the Social Security Act to exclude parental income and resources from the determination of a disabled child's SSI eligibility if such child requires the level of care provided in a hospital, skilled nursing facility, or intermediate care facility, but care outside such a facility is appropriate and less costly. Amends the Internal Revenue Code to impose a 50 percent excise tax on gain or other income realized by greenmail (amounts paid by corporations in redeeming their stock from certain shareholders) recipients.…