This bill establishes a comprehensive federal framework for managing risks from advanced artificial intelligence systems, particularly "frontier" AI models with high-performance capabilities that could threaten national security, economic security, or public safety. It creates an Artificial Intelligence Safety Board within the Department of Commerce, staffed by government officials from Commerce, the NSA, CISA, Treasury, and NIST, along with nongovernmental experts in AI development and security, tasked with developing technical evaluation processes and security standards for testing frontier AI systems. Developers of frontier AI models must comply with mandatory safety evaluation standards adopted by the Secretary of Commerce, face civil penalties of up to $250,000 per violation for non-compliance, and must provide the Board access to their systems at least 45 days before public release. The bill also requires secure testing environments through partnerships with the NSA and Department of Energy and directs the National Institute of Standards and Technology to develop standards and templates for managing risks from autonomous AI agents within 18 months. These requirements affect AI developers and researchers while establishing a structured government oversight process to address AI-related security and safety risks.