GothamCorps Authorization Act of 2007 - Establishes the GothamCorps program. Directs the Corporation for National and Community Service to provide, through such program, for the award of grants to certain units of local government to carry out volunteer projects. Requires local government units to provide each participant in a volunteer project with a scholarship equal to the cost of one year's tuition at a local public college. Authorizes grant funding from amounts made available in the National Service Trust.