110 HR 3816 IH: Military Financial Assistance Act of U.S. House of Representatives 2007-10-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 3816 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.

1.

Short title

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

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.

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.