H.R.1217: To amend the Internal Revenue Code of 1986 to provide a credit to certain concentrated animal feeding operations for the cost of complying with environmental protection regulations.

CAFO Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow owners or operators of a concentrated animal feeding operation a business-related tax credit, up to $500,000 in a taxable year, for the cost of compliance with a national pollutant discharge elimination system permit issued under the Federal Water Pollution Control Act. Terminates such credit after 2014.