Catastrophic Disaster Recovery Fairness Act of 2007 - Directs the Administrator of the Small Business Administration (SBA), in providing SBA disaster relief assistance for any major disaster declared during the period beginning on August 29, 2005, and ending on October 24, 2005, to waive the prohibition on the duplication of benefits, including whether damage or destruction has been compensated by, credit is available from, activities are reimbursable through, or funds have been made available from any other source.
Applies such amendment to any SBA assistance provided on or after August 29, 2005 (thereby ensuring applicability and retroactivity for victims of Hurricanes Katrina, Rita, and Wilma).
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