A bill to amend the Internal Revenue Code of 1954 to allow a deduction to individuals with permanently handicapped children for amounts contributed to a trust fund which is to be used for the care and support of such child.

Authorizes a deduction, under the Internal Revenue Code, to individuals with permanently handicapped children for amounts contributed to a trust fund which is to be used for the care and support of such child. Limits such deduction to the lesser of 10 percent of the adjusted gross income of the taxpayer, or $5000 in the case of a joint return.

Specifies the type of trust which may meet the conditions of this Act.

Defines terms used in this Act.