Innovative Environmental Strategies Act of 1997

[AI summary unavailable — showing source text] Innovative Environmental Strategies Act of 1997 - Authorizes owners or operators of facilities subject to Environmental Protection Agency (EPA) rules, requirements, policies, or practices to submit proposals for innovative environmental strategies for achieving better environmental results to the EPA Administrator. Excludes rules for emissions reductions under the Clean Air Act and certain reporting requirements under the Emergency Planning and Community Right to Know Act of 1986 from the definition of "rule." Authorizes the Administrator to enter into an innovative environmental strategy agreement with a facility upon approval of the proposal and subject to other specified requirements. Permits such agreements to: (1) modify or waive otherwise applicable EPA rules, requirements, policies, or practices; (2) establish new environmental standards for a facility; or (3) establish new requirements not contained in existing rules or statutes. Bars such agreements from contravening the specific terms of a statute. Declares that such agreements should further the purposes of environmental statutes. Requires the Administrator to establish procedures under which a person other than the owne…