[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3816 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3816

  To amend the Internal Revenue Code of 1986 to extend for 1 year the 
 authority for individuals called to active duty to make penalty-free 
 withdrawals from retirement plans and for the use of tax-exempt bonds 
    to finance homes for veterans without regard to the first-time 
                         homebuyer requirement.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 10, 2007

Mr. Perlmutter introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend for 1 year the 
 authority for individuals called to active duty to make penalty-free 
 withdrawals from retirement plans and for the use of tax-exempt bonds 
    to finance homes for veterans without regard to the first-time 
                         homebuyer requirement.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Military Financial Assistance Act of 
2007''.

SEC. 2. 1-YEAR EXTENSION OF PENALTY-FREE WITHDRAWALS FROM RETIREMENT 
              PLANS BY INDIVIDUALS CALLED TO ACTIVE DUTY.

    Clause (iv) of section 72(t)(2)(G) of the Internal Revenue Code of 
1986 is amended by striking ``December 31, 2007'' and inserting 
``December 31, 2008''.

SEC. 3. 1-YEAR EXTENSION OF USE OF TAX-EXEMPT BONDS TO FINANCE HOMES 
              FOR VETERANS WITHOUT REGARD TO THE FIRST-TIME HOMEBUYER 
              REQUIREMENT.

    Subparagraph (D) of section 143(d)(2) of the Internal Revenue Code 
of 1986 is amended by striking ``January 1, 2008'' and inserting 
``January 1, 2009''.
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