A bill to amend the Internal Revenue Code of 1954 to increase the amount of the credit for the elderly, to lower the age requirement for the exclusion of gain on the sale or exchange of a residence.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the amount of the credit for the elderly, lower the age requirements and raise the dollar limitation for the exclusion of gain on sales of residences, and allow individuals a personal exemption for each dependent parent.…