ACCURATE Act

The ACCURATE Act establishes a new Commission on Hazard Risk Assessment Tools to improve the quality and consistency of natural hazard risk models used by federal agencies. This commission will include representatives from government agencies, state and local emergency organizations, insurance and banking industries, and various professional sectors to develop standards for hazard maps, flood assessments, and risk scores. The bill requires federal departments to adopt these new standards when purchasing hazard assessment tools from private companies, with specific documentation requirements to ensure the tools meet established quality criteria. The commission will submit regular reports to Congress on its findings and recommendations, and the entire commission will dissolve five years after the law takes effect.