A bill to provide relief to certain individuals 60 years of age and over who own or rent their homes, through income tax credits and refunds.

Amends the Internal Revenue Code to allow a taxpayer who has attained the age of sixty to claim a limited amount as a credit against his income tax, and refund, equal to any amount in excess of his tax for the real property taxes paid by him, or for the amount of his rent constituting such taxes.