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.


Military Financial Assistance Act of 2007 - Amends the Internal Revenue Code to extend through 2008: (1) the exemption from tax penalties for withdrawals from retirement plans made by active duty military personnel; and (2) mortgage revenue bond issuance authority for financing of home purchases by veterans.

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