1997 Chevy Lumina security light is on

Your vehicle is equipped with Personal Automotive Security System (PASS-Key II(R)).
This security system is designed to prevent vehicle theft by disabling fuel system and starter unless an ignition key with a specific electrical resistance is used in the ignition key lock cylinder. PASS-Key II(R) system operates using sensing contacts, which are located in the ignition key lock cylinder. These contact a resistor pellet located in the ignition key. When lock is rotated, battery voltage is applied through appropriate fuse and resistor pellet to theft deterrent module (except Century), or body control module (Century). Pellet resistance is then compared with programmed value in the theft deterrent module or Body Control Module (BCM).
System components include ignition key, ignition key lock cylinder, theft deterrent module (except Century) or BCM (Century), theft deterrent relay and Powertrain Control Module (PCM). The PASS-Key II(R) system can also be supplied as a special equipment option on some vehicles

youtube is full of video on how to bypass the system
should check it out