A bill to amend the Internal Revenue Code of 1954 to allow certain elderly or disabled individuals a refundable income tax credit for a certain portion of the property taxes paid by them on their principal residences.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow individual taxpayers aged 65 or older and disabled individuals aged 62 or older a refundable income tax credit for real property taxes paid by them with respect to their principal residences. Limits the amount of such credit to $600 for a taxable year. Reduces the amount of such credit by six percent of the amount by which the taxpayer's adjusted gross income exceeds $11,000.…