A bill to amend the Internal Revenue Code of 1954 to allow individuals a credit against income tax for the purchase and installation of locks and other security devices on residences.

Amends the Internal Revenue Code to allow an individual an income tax credit equal to 25 percent of the amount of expenses paid or incurred during the taxable year for new security devices for the taxpayer's residence. Limits the amount of the tax credit to a maximum of $125. Provide that the tax credit shall be 100 percent of such expenses for individuals who have attained the age of 65 before the close of the taxable year.

Provides that where the basis of property is increased as a result of an expenditure for security devices, the taxpayer must reduce such property's basis by the amount of the allowed credit. Provides that no credit shall be allowed where the property is eligible for the investment credit.