Increases personal income tax exemption for persons with dependent senior citizen residing with them, requires report by office for the aging on effect of exemption

Provides a resident taxpayer an additional personal income tax exemption for each dependent who is 65 years of age or older and who is residing with the taxpayer; also requires the office for the aging to biennially report to the governor and legislature concerning the effects of such additional tax exemption on programs offered under the auspices or with the support, direct or indirect, of the office for the aging.