Family Leave Insurance Act of 2007

Family Leave Insurance Act of 2007 - Directs the Secretary of Labor to establish a Family and Medical Leave Insurance Program, mandatory for certain covered employers.

Entitles eligible employees to Program benefits that include specified percentages of their daily earnings for eight workweeks of leave under the Family and Medical Leave Act of 1993 or other authority during any 12-month period.

Authorizes any employer, with the Secretary's approval, to establish a voluntary plan meeting specified criteria.

Specifies prohibited acts by an employer, and penalties for violations.

Requires the Director of the Office of Personnel Management (OPM) to establish a Civil Service Family and Medical Leave Insurance Program with the same Program benefits for certain federal agency employees.

Amends the Internal Revenue Code to impose a family and medical leave premium on every individual and every employer to finance a Family and Medical Leave Trust Fund in the Treasury for Program benefits. Exempts from such premium: (1) employers or self-employers with voluntary plans approved by the Secretary as equivalent or better than the Program; and (2) small employers who have elected not to participate in it.