Protect Patriot Parents Act This bill makes certain aliens who are parents of a veteran eligible for adjustment to permanent residence status. An eligible alien shall be an individual who is a parent of a U.S. citizen who served in the U.S. Armed Forces, either on active duty or in a reserve component. If the U.S. citizen has been discharged from the Armed Forces, such discharge must be under honorable conditions. Certain factors that would otherwise make an alien inadmissible, such as having entered the United States without being admitted, shall not make such an alien parent ineligible for permanent residence status under this bill. The Department of Homeland Security may also waive certain factors that would otherwise make an alien inadmissible, such as having misrepresented a material fact to secure a visa, if the alien does not pose a threat to the public and has not committed any crimes that are unrelated to immigration status.