Minimum Wage Fairness Act of 2007 - Amends the Fair Labor Standards Act of 1938 to exclude tips in determining an employee's minimum wage to the extent that tips are excluded from that employee's wage under the terms of an applicable collective bargaining agreement.
Requires states and localities to permit a tip credit meeting certain criteria if, after enactment of this Act, they prohibit any portion of a tipped employee's tips from being considered as wages in determining if such employee has been paid the minimum wage rate.