A bill to amend the Internal Revenue Code of 1954 to provide for certain individuals who have attained age 60 a credit against income tax for amounts paid for the maintenance of their principal residences.

Amends the Internal Revenue Code to allow an individual who has attained age 60 before the close of a taxable year a nonrefundable income tax credit for expenses paid or incurred with respect to the maintenance of such individual's principal residence. Limits the dollar amount of such credit to $5,000 for any taxable year. Reduced such dollar amount by the aggregate amount of credits allowed for all prior years with respect to a residence. Reduces the amount of home maintenance expenses which may be taken into account for purposes of the credit by one-half of the amount by which the adjusted gross income of the taxpayer exceeds $30,000.

Defines "qualified home maintenance expenses" as expenses which: (1) are allowable for the repair or maintenance of a taxpayer's principal residence under regulations prescribed by the Secretary of the Treasury; (2) are not allowable as an income tax deduction; and (3) are not properly chargeable to capital account. Provides that a married couple must file a joint return and that one spouse must have attained age 60 to qualify for the credit.