H.R.2050: To amend title XIX of the Social Security Act to permit States to obtain reimbursement under the Medicaid Program for care or services required under the Emergency Medical Treatment and Active Labor Act that are provided in a nonpublicly owned or operated institution for mental diseases.

Medicaid Emergency Psychiatric Care Act of 2007 - Amends title XIX (Medicaid) of the Social Security Act with respect to reimbursement for specified emergency care and services of private institutions for mental diseases subject (under the Emergency Medical Treatment and Active Medicaid (EMTALA) Program) to certain requirements for examination and treatment for emergency medical conditions.

Requires the Medicaid program to reimburse such institutions for care and services required to stabilize an emergency medical condition of an individual between ages 21 and 65, if the treatment is within the range of services that such institution typically provides.