Drinking Water System Improvement Act of 2017 This bill amends the Safe Drinking Water Act to provide support for public water systems and promote compliance by the systems with drinking water regulations. The bill expands requirements concerning consumer confidence reports issued by community water systems. The Environmental Protection Agency (EPA) or a state with primary enforcement authority responsibility under the Act may require the owners or operators of certain public water systems that have repeatedly violated national primary drinking water regulations to consolidate or transfer ownership. The EPA must develop a strategic plan for improving the accuracy and availability of compliance monitoring data. The bill expands risk assessment requirements for community water systems to include risks from natural hazards. The bill creates a grant program within the EPA called the Drinking Water Infrastructure Risk and Resilience Program. The bill: (1) reauthorizes through FY2022 the public water system supervision grant program and the source water petition program, and (2) reauthorizes through FY2022 and revises the drinking water state revolving fund. The bill expands requirements for public water systems to monitor unregulated containments. The EPA must establish a grant program for the replacement of drinking water fountains that contain lead in schools and day care facilities. This bill amends the Emergency Planning and Community Right-To-Know Act of 1986 to ensure that states and community water systems are notified of a release of a contaminant into their source waters.