This legislation directs the Under Secretary of Commerce for Standards and Technology to establish an advisory Commission on Hazard Risk Assessment Tools within 180 days of enactment. This Commission is tasked with identifying various hazard risk assessment tools and models used by federal agencies, such as hazard and flood maps, along with their key data inputs. Its primary duty is to develop and recommend standards and specifications for validating the quality control of these tools, addressing data inputs, model assumptions, and output validation. Furthermore, the Commission will recommend standardized methodologies for data collection and analysis, and catalog the quality and transparency needs for these tools. It will also propose best practices for federal procurement of such tools, including evaluating the Federal Acquisition Regulations. The Under Secretary must review these recommendations within 180 days and may issue guidance. The Commission will comprise diverse members from federal and state agencies, various industries, and academia, all possessing relevant expertise. Federal agencies are generally required to incorporate adopted standards when procuring or using private sector tools, with limited exceptions for national emergencies or when no applicable standards exist. The Commission is set to terminate five years after the bill's enactment.