Federal Accountability for Nuclear Waste Storage Act of 2007 - Amends the Nuclear Waste Policy Act of 1982 to require commercial nuclear power plant operators to transfer, within six years after enactment of this Act, spent nuclear fuel from spent nuclear fuel pools into spent nuclear fuel dry casks at an independent spent fuel storage facility generally licensed by the Nuclear Regulatory Commission (NRC) and located at the power reactor site.
Directs the Secretary of Energy to: (1) make grants to compensate a contractor for expenses incurred in carrying out such transfer; and (2) accept conveyance of title to a spent nuclear fuel dry cask (including its contents) from the contractor following certification of compliance by the NRC.
States that conveyance of title confers upon the Secretary full responsibility for the possession, stewardship, maintenance, monitoring, and ultimate disposition of all transferred spent nuclear fuel. Authorizes the Secretary to contract with the holder of an NRC operating license for power reactors located on or adjacent to the spent nuclear fuel dry cask for the performance of such tasks.