Fisheries Restoration and Irrigation Mitigation Act of 2007 - Amends the Fisheries Restoration and Irrigation Mitigation Act of 2000 to direct the Secretary of the Interior, acting through the Director of the U.S. Fish and Wildlife Service, to give priority to any project that has a total cost of less than $2.5 million (currently, $5 million).
Authorizes the Secretary, without further appropriation and without fiscal year limitation, to accept any amounts provided to the Secretary by the Administrator of the Bonneville Power Administration.
Requires: (1) any amounts provided by the Bonneville Power Administration directly or through a grant to another entity for a project carried out under the Program to be credited toward the non-federal share of project costs; and (2) the Secretary's report on projects under such Act to be made after partnering with local governmental entities and the states in the Pacific Ocean drainage area (Oregon, Washington, Montana, and Idaho).
Authorizes appropriations for the Act through FY2014. Sets forth limits and requirements on the amount that may be used each fiscal year for federal and state administrative expenses of carrying out this Act.