Best Buddies Empowerment for People with Intellectual Disabilities Act of 2007 - Authorizes the Secretary of Education to award grants to, or enter into agreements with, Best Buddies (a nonprofit organization dedicated to helping people with intellectual disabilities mesh with mainstream society) to promote the expansion of Best Buddies and the design and implementation of its education and outreach programs, including character education and volunteer programs, that can be integrated into classroom instruction.
Amends the Elementary and Secondary Education Act of 1965 to repeal authority for the Fund for the Improvement of Education: (1) educational, cultural, apprenticeship, and exchange programs for Alaska Natives, Native Hawaiians, and their historical whaling and trading partners in Massachusetts; and (2) program of grants to a national nonprofit educational organization for the improvement of student understanding of personal finance and economics through effective teaching of economics in the nation's classrooms.