This bill requires the National Aeronautics and Space Administration (NASA) to undertake a comprehensive study on the modernization of aeronautical standards. NASA will conduct this study in collaboration with the Federal Aviation Administration (FAA), the National Oceanic and Atmospheric Administration (NOAA), and various academic, industry, and nonprofit organizations. The study, officially named the "Modernization of Aeronautical Standards and Aircraft Performance Study," will delve into several critical areas. It will assess current and past atmospheric conditions over 50 years, project future trends for the next 50 years, and analyze the significant variations observed. A key focus is to understand the impacts of these atmospheric changes on the operation, maintenance, and sustainment costs of covered commercial aircraft, as well as their overall performance. Furthermore, the study will estimate the number of weight restriction hours for commercial aircraft at major airports and evaluate the necessary infrastructure investments at these facilities. It will also provide recommendations for design modifications for future aircraft to better account for evolving atmospheric conditions. Finally, the study aims to assess existing U.S. aeronautical and atmospheric standards, including the United States Standard Atmosphere of 1976, and propose criteria for their future updates or supplements. NASA is authorized to transmit the study's findings to the House Committee on Science, Space, and Technology and the Senate Committee on Commerce, Science, and Transportation within 18 months of the bill's enactment.