Accurate Labels Act This bill restricts the authority of state and federal agencies to establish or enforce labeling requirements with respect to the chemical composition of, or radiation emitted by, consumer products. Specifically, such requirements (1) must exempt nonfunctional or naturally occurring substances; (2) must exempt the inclusion of trade secrets; (3) may not preclude the delivery of certain supplemental or clarifying information; (4) shall not apply to a substance if the concentration of the substance in the product is below a specified level; (5) shall not apply, with respect to the emission of radiation, if the level of emission is below a specified level; (6) must allow for certain information to be communicated to consumers electronically or digitally; and (7) must be risk-based and meet other specified standards.