Public School Repair and Renovation Act of 2007 - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to direct the Secretary of Education to allocate funds to states for competitive school repair and renovation grants to local educational agencies (LEAs).
Requires each state, in awarding such grants, to: (1) award high-need and rural LEAs, in the aggregate, at least the same proportion of this Act's LEA funds for the state that they received of total LEA school improvement funds for the state under part A of Title I of the ESEA; and (2) consider the percentage of poor children LEAs serve, the condition of their public schools, and their fiscal capacity to cover repairs and renovations without such a grant.
Directs each state to reserve a portion of their allocation for a state-level database of public school facility inventory, condition, design, and utilization.
Requires the Comptroller General to study and report to Congress on the costs of, and public and private expenditures for, repairing, renovating, and constructing public elementary and secondary schools.