Access to Community Pharmacy Preservation Act of 2007

Access to Community Pharmacy Preservation Act of 2007 - Amends title XIX (Medicaid) of the Social Security Act (SSA) to require states to pay dispensing fees for Medicaid covered outpatient drugs.

Directs a state which provides medical assistance for covered outpatient drugs to establish a minimum Medicaid dispensing fee of at least $8 per unit for covered outpatient multiple source drugs.

Revises the requirement for application of the federal upper pharmacy reimbursement limit in the calculation of the payment for covered outpatient drugs. Increases from 250% to 300% the percentage of the average manufacturer price (AMP) the Secretary of Health and Human Services is required to substitute for 150% of the published price.

Repeals the state option to increase the cap on the equity asset test for an individual's eligibility for long-term care assistance under Medicaid.

Directs the Secretary, for purposes of verifying financial eligibility for Medicaid, to collaborate with the Commissioner of Social Security for use of the Commissioner's system for obtaining information held by financial institutions in order to verify eligibility for benefits under SSA title VI (Supplemental Security Income) (SSI).