Community Economic Development Expertise Enhancement Act of 2007 - Authorizes the Secretary of Housing and Urban Development to make grants to increase the capacity and expertise of qualifying community-based economic development organizations. Directs the Secretary to: (1) conduct an assessment of such organizations' capability needs; and (2) establish the Advisory Council on Community Economic Development. Directs the President to include with each annual budget request a report regarding federal financial support for community economic development.
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