H-1B Visa Program Modernization Act of 2007

H-1B Visa Program Modernization Act of 2007 - Amends the Immigration and Nationality Act to increase the annual H-1B nonimmigrant visa (specialty occupation) cap, with a 20% increase for the following year if the previous year's quota is reached.

Revises H-1B provisions with respect to: (1) application fraud and misrepresentation; (2) employer penalties; (3) Department of Labor investigations; (4) Department of Labor and Department of Homeland Security (DHS) information sharing; (5) information provided to an H-1B nonimmigrant upon visa issuance; (6) employment advertising; and (7) prohibiting an employer of fewer than 50 employees in the United States from having more than 50% H-1B nonimmigrant employees.