Internet Protection Act of 1997

Internet Protection Act of 1997 - Amends the Communications Act of 1934 to declare that it shall be U.S. policy to rely on private initiative and to avoid government restriction or supervision of Internet services.

Provides that nothing in the Act shall be construed to grant authority to the Federal Communications Commission (FCC) to regulate Internet services. Bars States from taking any action with respect to such services that the FCC is prohibited from taking or that is inconsistent with FCC actions.

Requires the FCC, when service provided by a nonaffiliated Internet service provider is a substitute for a comparable regulated service for a substantial portion of the geographic market for such regulated service, to forbear from applying any regulation or provision of the Act to such comparable service if: (1) enforcement is not necessary to ensure that charges, practices, classifications, or regulations by, for, or in connection with such service are just and reasonable and not unreasonably discriminatory; (2) enforcement is not necessary for consumer protection; and (3) forbearance is necessary to promote parity among service providers and consistent with the public interest. Authorizes petitions to the FCC for forbearance.

Requires the FCC to: (1) keep the House Committee on Commerce and the Senate Committee on Commerce, Science and Transportation currently informed on developments in the provision of Internet services; and (2) report any recommendations for legislative changes to the Congress if any development requires that a limitation on the FCC under this Act be removed.