A bill to amend the Internal Revenue Code of 1954 to allow a deduction to taxpayers who contribute the right to use certain real property to charitable organization for outpatient geriatric clinics or for multipurpose senior centers.

Authorizes a tax deduction, under the Internal Revenue Code, for any taxpayer who contributes the right to use any real property owned by the taxpayer to a tax-exempt organization for use by a qualified senior citizen facility.

Limits such deduction to 50 percent of the lesser of the fair market rental value of such property or the amount of State or local property taxes which are paid or incurred by the taxpayer and which are allocable to such property.