A bill to amend the Internal Revenue Code of 1954 to allow individuals an income tax credit for amounts paid or incurred for maintaining a household a member of which is a dependent of the taxpayer who has attained age 65.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow individual taxpayers who maintain a household which includes a dependent who has attained age 65 an income tax credit for the expenses of maintaining such household. Requires that such household constitute the principal residence of the aged dependent for more than three quarters of the taxable year. Limits the amount of the credit to $1,000 for each aged dependent. Directs the Secretary of the Treasury to report to the Congress on the administrative problems and revenue cost of the credit enacted by this Act.…