Once a facility properly notifies the National Response Center (NRC), is it exempted from any liability for damages that the release may cause?

No. Proper and timely reporting of a release in accordance with Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) section 103 does not preclude liability for cleanup costs, natural resource damages, and costs of any necessary health studies conducted under CERCLA section 104(i). It does, however, eliminate potential penalties for failure to notify the NRC.