A bill to amend the Internal Revenue Code of 1954 to provide an income tax credit for any individual who performs voluntary service for any organization engaged in the treatment, care or rehabilitation of the physically handicapped or the mentally ill.

Allows under the Internal Revenue Code as a credit against the income tax an amount equal to 70 percent of any voluntary service contribution during the taxable year made by such individual to a qualified organization for the physically handicapped or mentally ill.

Limits such credit to $750 or $1,000 for a joint return in any one year.

Makes ineligible for such deduction any person who has not performed a minimum of 50 hours of service, without compensation for a qualified organization.