A bill to amend the Internal Revenue Code of 1954 to provide an optional credit for taxes or rent paid on a principal residence by persons who are 65 years of age of older, and by persons who are handicapped.

[AI summary unavailable — showing source text] Permits, under the Internal Revenue Code, a taxpayer who has attained the age of 65 or one who is disabled to take an optional tax credit of up to $250 against the income tax for real property taxes paid, or for the amount of rent constituting such taxes paid by the taxpayer.…