(a) The commission by rule may establish risk assessment as the guide for:
(1) conducting site investigations and environmental assessments; and
(2) controlling and cleaning up oil and gas wastes and other substances and materials.
(b) Rules adopted under this section must provide for:
(1) determining whether an actual or potential risk exists at a site;
(2) screening contaminants at the site to identify those that pose a risk;
(3) developing cleanup standards based on contamination levels that are protective of human health and the environment; and
(4) establishing a reporting mechanism for informing the commission regarding specific remediation activities.