S.1450: A bill to authorize appropriations for the Housing Assistance Council.

Housing Assistance Council Authorization Act of 2007 - Authorizes the Secretary of Housing and Urban Development to provide financial assistance to the Housing Assistance Council to develop the capacity of community-based housing development organizations to undertake community development and affordable housing projects and programs in rural areas.

Authorizes the Council to use such assistance for rural community-based housing development organizations to acquire: (1) technical assistance, training, support, and advice to develop business and administrative capabilities; and (2) loans, grants, or other financial assistance to carry out community development and affordable housing activities for low- and moderate-income families.