A bill to amend the Internal Revenue Code of 1954 to provide a deduction for certain expenses of repair and maintenance of a home owned by a taxpayer who has attained the age of 65.

Allows tax deduction under the Internal Revenue Code for expenses incurred for the repair and maintenance of a home owned by a taxpayer who has attained the age of 65. Limits such deductions to $500 in any calendar year. (Amends 26 U.S.C. 218)