H.R.1392 - Federal Government - To amend the Homeland Security Act of 2002 to direct the Secretary of Homeland Security to require, as a condition of receiving a homeland security grant, that a grant recipient submit reports on each expenditure made using grant funds.

Homeland Security Transparency Act of 2007 - Amends the Homeland Security Act of 2002 to direct the Secretary of Homeland Security to: (1) require homeland security grant recipients to submit quarterly reports describing the nature and amount of each expenditure made using grant funds; and (2) publish such information and make it publicly available on the Department of Homeland Security's (DHS) Internet website.