Common Sense Superfund Liability Relief Act of 1997

Common Sense Superfund Liability Relief Act of 1997 - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to absolve of liability for response actions a person who does not impede a response action or natural resource restoration to the extent liability is based solely on arrangement, transportation, or acceptance provisions relating to disposal or treatment of hazardous substances and such activities only involved municipal solid waste or sewage sludge possessed by the person and the person is: (1) the owner, operator, or lessee of residential property; (2) a small business; or (3) a small nonprofit organization.

Adds provisions related to defenses to liability of an owner of after-acquired property, to deem a person to have made (under current law, "undertaken") appropriate inquiry into the property's previous ownership and uses if the person establishes that an environmental site assessment was conducted which meets specified requirements (compliance with an American Society for Testing and Materials standard or with standards issued by the President) and the person fulfills certain responsibilities concerning information compilation, exercise of appropriate care with respect to hazardous substances at the facility, and cooperation with those conducting response actions.

Absolves from liability for response actions bona fide prospective purchasers to the extent liability at a facility for a release or threat thereof is based solely on ownership or operation of a facility. Gives a lien upon a facility to the United States for unrecovered response costs in any case in which there are such unrecovered costs for which the owner is not liable by reason of this section and the facility's fair market value has increased above that which existed 180 days before the action was taken.