Coral Reef Sustainability Through Innovation Act of 2017 This bill amends the Coral Reef Conservation Act to authorize the 12 federal agencies on the U.S. Coral Reef Task Force, which includes the National Oceanic and Atmospheric Administration, to carry out, either individually or cooperatively, prize competitions that promote coral reef research and conservation. The prize competitions should be designed to help the United States achieve its goal of developing new and effective ways to advance the understanding, monitoring, and sustainability of coral reef ecosystems. Priority is given to establish programs that address communities, environments, or industries that are in distress due to the decline or degradation of coral reef ecosystems.