A bill to amend the Internal Revenue Code of 1954 to allow a credit against tax for expenses incurred in the care of elderly family members.

Amends the Internal Revenue Code to allow a refundable income tax credit for expenses incurred for qualified elderly care expenses for a qualifying family member.

Allows an income tax credit of 30 percent of the expenses incurred for taxpayers with incomes of $10,000 or less. Reduces the rate of such credit, but not below 20 percent, by one percent for each $2,000 of taxpayer income in excess of $10,000.

Limits such credit to taxpayers with an adjusted gross income of less than $50,000. Imposes a maximum $7,000 limit on the amount of elderly care expenses taken into account.

Defines "qualified family member" as any individual who: (1) is related to the taxpayer by blood or marriage; (2) is at least 75 years of age (or diagnosed with senile dementia); and (3) has a family income of $15,000 or less.

Defines "qualified elderly care expenses" as payments for: (1) home health agency services; (2) homemaker services; (3) adult day care; (4) respite care; or (5) certain health care equipment and supplies.