Ethics Reform Act of 2007 - Amends Rule X (Organization of Committees) of the Rules of the House to abolish the Committee on Standards of Official Conduct.
Establishes within the legislative branch an Independent Ethics Commission to perform the duties of the Committee.
Amends the Lobbying Disclosure Act of 1995 to transfer functions of the Secretary of the Senate and the Clerk of the House to the Commission with respect to: (1) registration of lobbyists; (2) disclosure and enforcement; (3) penalties; and (4) rules of construction.
Requires quarterly instead of semiannual filing of lobbying disclosure reports with the Commission in an electronic form to made available to the public free of charge over the Internet.
Requires the Commission to continue any investigations pending before the Committee six months after the enactment of this Act.
Sets forth House procedures for consideration of Commission recommendations.