Rural Investment to Strengthen our Economy Act of 2007 or Rural RISE Act - Amends the Internal Revenue Code to: (1) allow a capital loss deduction with respect to the sale or exchange of a principal residence in certain rural areas; and (2) expand the work opportunity tax credit to include a qualified small business employee as a targeted group member.
Authorizes the Secretary of Education to carry out a program for the forgiveness of student loans for certain rural students who obtain a degree.
Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish a: (1) rural entrepreneurship and microenterprise program; and (2) rural regional entrepreneurship program.
Requires the Secretary of Labor to award grants to: (1) regional skill alliances (business consortia) serving certain rural areas to assist in the development of job skills necessary for employment in specific industries; and (2) states to assist businesses, organizations, and agencies representing such industries in conducting planning to form such alliances.
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